China forces 63,000 officials to quit company directorships
The Organization Department of the Communist Party of China Central Committee said in a statement that 226 of the ministerial-level officials have completed their resignations procedures and the remaining three are expected to quit by next February.
The statement said follow-up work, including rigid supervision and regular inspection will be carried out to prevent a resurgence of government officials doing parttime jobs at companies.
The department set a ban on incumbent officials' employment in private companies in Oct., 2013 to reduce the chances for corruption.
The ban reportedly brought about a mass exodus of independent directors from listed Chinese companies. ■