The Advisory Committee on Post-office Employment for Former Chief Executives & Politically Appointed Officials has given the nod to former Secretary for Economic Development & Labour Stephen Ip to take up a post with Yangtze China Investment.

The committee noted that Mr Ip's previous official dealings in the Government were not related to the proposed appointment, as an independent non-executive director for the company. It felt the proposed appointment would not cause the company to gain an unfair advantage over its competitors, nor cause potential conflict of interests.

It also noted that the post was with a new start-up company investing in unlisted companies, with the operations based principally on the Mainland. It did not anticipate adverse public reaction or public perception problems arising from the appointment. 

The appointment will take effect from February 21.