China eased away from a confrontation with
Alibaba Group Holding Ltd., saying this week’s report
criticizing the e-commerce company for failing to root out
counterfeit goods didn’t have “judicial effect.”
Jack Ma, Alibaba’s billionaire chairman, met Zhang Mao,
chief of State Administration for Industry and Commerce on
Friday, promising to step up anti-piracy spending, according to
a statement on the regulator’s website.
“We will actively cooperate with the government and increase investment to strengthen our existing anti-counterfeit team,” Ma said, as cited in the SAIC statement. “We’ll enhance daily online and offline inspection and spot check to solve the problem with the authorities together.”
The meeting may mark an easing of tensions between the company and the government. The SAIC issued a “white paper” this week that accused Alibaba of allowing merchants to operate without required licenses, to run unauthorized stores that co-opt famous brands and to sell fake wine and handbags.
Alibaba employees took bribes, and the company didn’t fix flaws in customer feedback and internal credit-scoring systems, SAIC said.
The SAIC now says the report is essentially a meeting memo without “judicial effect,” according to a separate statement from the regulator.
The government said earlier that the SAIC meeting that prompted the report happened in July, but that publication was delayed to this week to avoid affecting Alibaba’s $25 billion initial public offering in September.
Alibaba, which dropped 4.4 percent on Jan. 28 after the initial SAIC report, gained as much as 2.4 percent in New York trading on Friday.
“We will actively cooperate with the government and increase investment to strengthen our existing anti-counterfeit team,” Ma said, as cited in the SAIC statement. “We’ll enhance daily online and offline inspection and spot check to solve the problem with the authorities together.”
The meeting may mark an easing of tensions between the company and the government. The SAIC issued a “white paper” this week that accused Alibaba of allowing merchants to operate without required licenses, to run unauthorized stores that co-opt famous brands and to sell fake wine and handbags.
Alibaba employees took bribes, and the company didn’t fix flaws in customer feedback and internal credit-scoring systems, SAIC said.
The SAIC now says the report is essentially a meeting memo without “judicial effect,” according to a separate statement from the regulator.
The government said earlier that the SAIC meeting that prompted the report happened in July, but that publication was delayed to this week to avoid affecting Alibaba’s $25 billion initial public offering in September.
Alibaba, which dropped 4.4 percent on Jan. 28 after the initial SAIC report, gained as much as 2.4 percent in New York trading on Friday.
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