CCTV Criticizes 'Business Opportunity' Websites

Dahe.cn, 4/23/09

Franchised "business opportunity" websites www.28.com, www.u88.com, and www.3158.cn, which have recently received celebrity endorsements, have been described as scams in a program aired April 19 by China's national broadcaster CCTV. Deputy director of the Franchise Research Center of the China University of Political Science and Law, Li Weihua, said more than 90% of the information on these types of "business opportunity" websites is fraudulent.

Editor's Note: In China, "business opportunity" websites typically offer various business or investment opportunities with the promise of enormous returns. This category of company reportedly comprises a not-insignificant portion of advertisers on online search sites like Baidu (Nasdaq: BIDU), giving rise to industry concerns that Baidu may be in the cross hairs for another CCTV expose like that which the broadcaster aired last November (which focused on fraudulent online advertising for pharmaceuticals and health care).

Keywords: 28.com u88.com 3158.cn Li Weihua China University of Political Science and Law Internet CCTV litigation scam online search Baidu BIDU online advertising online franchising

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