Provisions on part-time restriction of senior managers of wholly state-owned companies

Article 70 Without the consent of the state-owned assets supervision and administration institution, the chairman, vice-chairman, directors and senior managers of a wholly state-owned company may not hold part-time jobs in other limited liability companies, joint stock limited companies or other economic organizations. Article 217 The meanings of the following terms in this Law: (1) Senior management personnel refer to the managers, deputy managers, financial officers, secretary of the board of directors of listed companies and other personnel stipulated in the articles of association of the company. The purpose of the full-time system of the person in charge of a wholly state-owned company is to prevent the management of the company from being neglected because of the part-time job of the person in charge of the company, and to avoid possible losses to state-owned assets.