Best World says pyramid scheme crackdown has little to no impact on China business

SINGAPORE (Aug 15): Best World International has issued a statement to address potential investor concerns regarding market concerns arising from China’s State Administration for Industry & Commerce (SAIC) Monday announcement of its intention to crack down on pyramid selling practices.

To recap, Bloomberg this morning published an article online which detailed how certain direct selling companies have seen their share prices drop since SAIC’s announcement, which Best World says is “widely anticipated” in light of recent news reports on the drowning of a university student who allegedly fell victim to a certain pyramid selling scheme’s advertisement.

See: Herbalife, Nu Skin Shares Plunge Over Fears of Chinese Crackdown

---

Related Stories

• Buying into China stimulus Is ‘painful trade’, Lombard Odier says
• China’s stock rally faces risk as retail enthusiasm seen cooling
• China keeps policy loan rate unchanged for second month

---