China banks are scaling back travel perks by telling staff not to fly business class and to book cheaper hotel rooms, part of moves to rein in spending at lenders already under pressure to embrace more frugal operations from President Xi Jinping’s “common prosperity” push.

Firms including Industrial Bank Co. told bankers late last month that local branch executives and domestic division heads should book the cheapest seats possible on trains and avoid business class on local and international flights, according to people familiar with the matter. Budgets for accommodation in the country’s big cities were cut by at least 10% per day, said the people, who asked not to be identified discussing private information. Other banks including China Minsheng Banking Corp. and China Citic Bank Corp also tightened travel spending rules, said the people.