Conspicuous consumption has long been a double-edged sword of freedom to buy versus the never ending pursuit of the thrill of acquisition. Commercials and star endorsements have been growing at record pace in China for the last two decades and is now also falling victim to the recent Chinese government crackdown on the broader entertainment industry. This week a new decree came down that required heightened scrutiny and approval for any commercials to air on TV, including reviewing the content, message, and impression. Also of concern is whether stars will be held accountable for shilling products they haven’t personally used and liked, i.e. selling crap for a quick buck. All of this is no surprise but expect a tick down on CFs and star billboards in the recent period to come until things potentially loosen back up.