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Reuters

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Alibaba raised $25bn when it floated its inventory in New York final 12 months

Chinese language e-commerce big Alibaba is again on the US’s “infamous markets” listing over counterfeit items gross sales.

Alibaba was taken off the listing 4 years in the past, however US authorities say the agency’s on-line platform Taobao is used to promote “excessive ranges” of faux items.

The corporate has rejected the allegations, insisting it polices its market place higher than previously.

The agency additionally prompt the “present political local weather” within the US could be why they’re again on the listing.

US President-elect Donald Trump had, throughout his marketing campaign, repeatedly accused Chinese language corporations of stealing mental property.

Alibaba Group President Michael Evans stated he was “disenchanted” by the choice and questioned whether or not it was “based mostly on precise details or was influenced by the present political local weather.”

The Chinese language on-line retailer and its market place Taobao have lengthy been accused of being a platform for counterfeit items.

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Getty Photos

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Alibaba was suspended from the Worldwide Anti-Counterfeiting Coalition in Could

Taobao stated earlier this 12 months it had tightened controls on its sale of luxurious items, requiring sellers to point out proof of authenticity.

In Could although, Alibaba was suspended from the Worldwide Anti Counterfeiting Coalition (IACC) watchdog over piracy considerations.

Greater than 250 members, together with Gucci America and Michael Kors, had threatened they would depart the IACC in protest at Alibaba’s membership.

Alibaba – by far China’s largest on-line retailer – floated on the New York Inventory Trade in September 2014 and broke records by raising $25bn.