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Alibaba Group Holding Ltd (NYSE:BABA) unable to deal with its problems even after meeting with China regulators

Chairman of Alibaba Group Holding Ltd (NYSE:BABA),Jack Ma and China’s commerce regulator head are assumed to might have assisted to avoid a uncommonscrimmage among the leading e-commerce company and adominant government agency.

On the contrary, it could do little do contain the fallout from the top profile feud, because no party expressed the crucial questions; was counterfeiting as grave a situation as the regulators claim it to be,and are they going to address fake merchandiseonline sales?

Director of State Administration for Industry and Commerce (abbreviated as SAIC), Ma, in his conference with Zhang Mao laid anpromise:

“We will actively cooperate with the government and devote more technology and capital to weeding out fake goods.”

Zhang further added, while bestowing admiration for Alibaba, that an effort is being made to safeguard consumer interests upon which the agency is trying hard to innovate new modes of oversight to e-commerce. Zhang also cited that agency is going to address the sales of fake products on Alibaba’s websites.

The meeting wasreported to be held on the same day when State Administration for Industry and Commerce backtracked on an initial white paper slamming Alibaba for showing lack of interest in the overwhelming counterfeit good sales via its website.

The document that is legally a detailed one is said to believe that SAIC had protested Alibaba for selling products which allegedly flouted certain standards. According to the justifications provided by SAIC on media panel the last year’s July meeting was withheld from the public so that it may not influence preparation work prior to Alibaba’s initial public offering.

These kinds of closed communications meant for business is very common in China, where trade barriers are intended to boost the growth of the economy.

Since last year in September, Alibaba has been listed in New York, raising a record US$25 billion.

 

 

 

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