China Rules Could Hamper Luxe.(luxury goods)

Byline: ELLEN SHENG WITH CONTRIBUTIONS FROM SAMANTHA CONTI

China Rules Could Hamper Luxe

HONG KONG

As concerns mount over China's economic slowdown, luxury executives might have to contend with another piece of news coming out of the country that could dent sales.

This week, the Chinese government unveiled new rules barring government agencies from purchasing luxury items, goods or commodities "above certain standards," according to state-run media. The new rules could deliver a further blow to luxury sales in China, which are already showing signs of slowing down.

Gift-giving is an ingrained part of doing business in China. Expensive …