Shanghai bans senior officials' family from business

Hong Kong

SHANGHAI banned spouses and children of senior officials from private business, making the Chinese financial hub the first to impose such strict controls over the family wealth of Communist Party cadres.

The husbands and wives of ministerial and provincial-level officials are prohibited from starting companies or getting involved in any business operations, according to regulations passed Monday at the Shanghai municipal government's general meeting. Children of local officials and their spouses cannot conduct business within the municipality, which in China carries the same status as a province.