First News
Volume:7, Number:26
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Business & Finance 5
THIS WEEK

US Puts Alibaba Back on ‘Notorious Markets’ Blacklist

The Office of the US Trade Representative said that Alibaba’s on-line marketplace Taobao sells “high levels” of counterfeit goods. USTR took Alibaba off the blacklist in 2012, but several US trade groups successfully sought to get it reinstated. Alibaba Group President Michael Evans said the company is “disappointed.” Alibaba polices the market more effectively than it did four years ago, he said. Evans questioned whether the USTR decision was “based on actual facts or was influenced by the current political climate.” During the presidential campaign, Donald Trump blasted China for stealing intellectual property. In 2014, Alibaba sold USD25 billion worth of stock on the New York Stock Exchange in the biggest initial public offering on record. Winding up on the notorious markets listing again is another blow to its reputation. In 2015, Chinese regulators issued an unusual, scathing report that accused Alibaba of failing to do enough to prevent the sale of fakes on its websites.

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