More than 40% of goods sold on the Internet in China are fakes or shoddy, according to a report by an official of the standing committee of the National People's Congress, the country's top law-making body.
Breaking News
Alibaba Group Holding Ltd's underwhelming holiday quarter performance and an escalating war of words with a powerful Chinese industry regulator highlight two major risks to its seemingly fairy-tale ascent: politics and the shift to mobile commerce.
China's Alibaba Group Holding Ltd, the world's largest e-commerce company, spent over 1 billion yuan ($160.7 million) combating fake goods and for improving customer protection from the beginning of 2013 to the end of November, the firm said Tuesday.
Microsoft Corp chief executive Satya Nadella promised to cooperate fully with Chinese authorities in their antitrust investigation into his company during a meeting with a top regulator in Beijing, the Chinese government said.
General Motors Co said there were no problems with its partnership with Shanghai Automotive Industry Corp.
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