Stock Market Off-Limits for China Officials
BEIJING — The Chinese Communist Party’s top disciplinary committee Wednesday formally banned party officials from playing the stock market.
Issued after an extraordinary meeting to slay the “virus” of corruption rampant in the world’s biggest Communist organization, the new rules bar officials from stock trading and most other market pursuits, the official New China News Agency said.
“None is allowed to trade in stocks,” the rules state, putting teeth into the party’s renewed vows to clean its ranks.
“None is allowed to engage in commerce, run enterprises, engage in paid media activities or use power to provide preferences for spouses, children, relatives or friends in running commercial businesses.”
Graft has flourished in 14 years of market experimentation, with growing numbers of government and party officials demanding illegal compensation before issuing essential permits.
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