Alibaba CEO: Calls To Take Hard On Counterfeiters – Research Snipers

Alibaba CEO: Calls To Take Hard On Counterfeiters

alibaba ceo

Chinese B2B and B2C e-commerce website Alibaba is talking hard on copycats. On Webio (a famous Chinese Twitter) Alibaba CEO Jack Ma tweeted strong messages to urge Chinese government to take serious actions against counterfeiters. Jack Ma urged government to take actions against fake product makers, distributers as you take against drunk drivers.

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Law in China for drunk driving is quite harsh, if someone caught intoxicated the license is revoked and cannot be applied again for the next 5 years. Previously, China had $1000 to $2000 fines with 6 months license suspension. In order to crack down on this offense Chinese government raised the penalty to 5 years driving ban which saw 87% reduction in drunk driving.

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Chinese e-commerce giant Alibaba is taking its fight against counterfeiters very seriously.

Its founder, Jack Ma, took to Weibo (China’s Twitter) on Monday to urge the country’s government to treat counterfeiting as seriously as it takes drunk driving.

In a post Ma addressed Chinese lawmakers who convened at the country’s annual legislative sessions, Ma admired the law changes on drunk driving and said that stricter laws on drunk driving are the most “classical law improvements” made in recent years, spurring the government to tackle counterfeits in the same way as they hamper innovation and creativity also affects global business.

The post mentions the statement released last month, where Alibaba demands the Chinese government to impede counterfeiting and make strong laws against counterfeiting. Of the 4,495 leads tied to counterfeiting that were identified by Alibaba last year, only 33 convictions were made, the company said.

It is estimated that nearly $500 billion worth of counterfeit products are sold every year, and China is on the top list of developing fake products. More than 60% of fake goods come from China alone, the OECD has said.

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image via: browntape