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Jack Ma, the founder of the Chinese ecommerce giant Alibaba, has pledged to rid the Chinese internet of counterfeit goods.
The billionaire has vowed to remove fake goods not only from his own websites but also from the websites of competitors such as JD and WeChat.
To tackle the problem of fake goods, Ma has promised to provide Alibaba’s anti-counterfeit team with an unlimited budget and unlimited staff.
Counterfeit products are a widespread problem on many Chinese ecommerce platforms.
A study conducted in 2015 by the State Administration for Industry and Commerce revealed that a staggering 63% of products sold on Alibaba’s Taobao platform could be fake.