BIZCHINA / Weekly Roundup
Pyramid crackdown
(China Daily)
Updated: 2006-09-25 16:23
Pyramid crackdown
The State Administration for Industry and Commerce (SAIC) of China has
launched a one-year-long nationwide crackdown on pyramid selling in
collaboration with the Ministry of Public Security.
The crackdown will mainly focus on Guangxi, Guangdong, Shandong, Henan
and 10 others regions where pyramid selling is particularly rampant, a
SAIC spokesperson said last Wednesday.
The campaign will particularly target organizations engaged in
cross-regional pyramid selling, the recruitment of students into such
activities, and organizations that misrepresent reality to recruit their
members, accommodate them in dormitories and force them to engage in
pyramid selling, the spokesperson said.
Pyramid selling was outlawed in China in 1988. Years of crackdown,
however, have failed to completely weed it out.
China-US dialogue
High-ranking Chinese and US officials will meet twice a year for
wide-ranging discussions on their economic relationship, the first such
mechanism between the two nations.
The establishment of the China-US Strategic Economic Dialogue was jointly
announced by Vice-Premier Wu Yi and visiting US Treasury Secretary Henry
Paulson in Beijing last week.
The dialogue will focus on bilateral and global strategic economic issues
of common interest and concern; and both sides intend to meet twice a
year in alternate capitals, according to a joint statement.
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