The Chinese ecommerce company Alibaba has announced that it successfully tackled counterfeit goods on its Taobao platform last year. It closed down 240,000 Taobao stores in 2017 on suspicion of selling counterfeit goods, 60,000 more than the previous year. This action seems to have had the desired effect. Last year, out of every 10,000 items returned to the platform, only 1.49 were from users who said that the goods were counterfeit. This is a reduction of 29% on the previous year. Last year, Alibaba CEO Jack Ma pledged to clamp down on counterfeit goods, saying that they had no place on any of Alibaba's platforms.