Over 200 top officials ordered to quit corporate posts

Over 200 senior mainland government officials have been ordered to quit from company jobs, South China Morning Post reported, citing state media. The orders were made after the Communist Party’s Organisation Department passed a rule in October last year banning government and party officials from also holding outside jobs, Xinhua reported on Tuesday.The Organisation Department said banning senior officials from businesses would help build “a sound market order.” The department order triggered an “an exodus” of independent directors from about 300 listed companies in Shanghai and Shenzhen, The Economic Observer newspaper reported on Wednesday.