High-end consumption falls

China's high-end consumption has dropped significantly since central authorities launched a crackdown on official banquets and extravagance, a senior official said Thursday.

Sales of 11 high-end baijiu, or white liquor, monitored by the Ministry of Commerce fell by 7.2 percent in 2013 from a year earlier, Vice Minister of Commerce Fang Aiqing said.

Sales of autos with an emission more than 3.0 liters slumped by 20.7 percent year-on-year in the first 11 months of 2013, he said.

The number of prepaid cards issued by high-end retailers and catering firms also witnessed a large decline last year, he noted.

China's retail sales are expected to grow by 13 percent in 2014, according to the ministry.