According to the US "Wall Street Journal" report, China is strengthening its control over the e-commerce industry with loose regulations. China's booming e-commerce has created giants such as the Alibaba Group, but has also been criticized for failing to adequately regulate counterfeit and shoddy products and suspicious business practices. These measures may increase the pressure on companies such as Alibaba, but it is also expected to clarify the norms of the e-commerce industry that the Chinese government hopes to foster. According to data tracer eMarketer, China's online retail spending reached $427 billion in 2014 and is expected to exceed $1 trillion in 2018. The Chinese Ministry of Commerce said on March 31 that it hopes to crack down on the practice of falsifying merchant credit ratings by falsifying transaction records and buyer evaluations, which is commonly referred to as credit. As part of a broader draft law, the Commerce Department hopes that retail platform operators will ban merchants from fictitious credit ratings, saying that operators that cannot provide such behavior-related information will face up to a fine of 500,000 yuan. In the past few months, Chinese regulators have criticized e-commerce companies for failing to crack down on sales of counterfeit and shoddy products and other unethical behavior. Officials also said that the Chinese government may introduce a draft e-commerce law before the end of the year. Alibaba announced that it has taken measures to improve the quality of the platform. Last month, the rules were introduced to restrict the presence of Tmall. The Chinese government's move may put more pressure on companies like Alibaba. Alibaba's online shopping platform Taobao has more than 8 million merchants, and the new regulations may require Taobao to strengthen supervision. Elinor Leung, an analyst at CLSA in Hong Kong, said the government's move would make the Chinese e-commerce market more sustainable. She said that this is a necessary process for establishing a real consumer market in China. No one can circumvent this process. Alibaba is no exception. Alibaba spokesman said that the company has always complied with Chinese laws and regulations and supported government departments to take measures to promote the healthy development of China's e-commerce industry. Since last month, Alibaba has only allowed brands and their authorized dealers to open stores in Tmall. This applies to cosmetics, shoe bags, clothing and sports related goods. Alibaba announced the list of businesses that have been approved to enter Tmall. There are more than 5,000 brands on the list. Alibaba also requires merchants such as household goods to display their branded goods distribution authorization. Zhang Jianfeng, head of Alibaba's China retail platform, said in an interview in March that the merchants are required to display distribution licenses in order to increase the barriers to entry into Tmall. Only those high-quality goods and services can enter Tmall. Analysts and brand owners say the new rules have taken a big step forward, possibly reducing counterfeit goods and so-called parallel imports that are not sold under the brand's mandate and sold at low prices. Parallel goods include goods produced by factories with over-orders and goods imported from countries with lower prices. It is not illegal to sell parallel goods in China, but this practice will damage the brand image and disrupt its marketing strategy. Alibaba said that the penalties for selling fake sellers to Tmall include retiring their stores and deducting the full deposit or telling the relevant authorities. The sellers on Taobao are also subject to strict penalties. The company said it spends more than $16 million a year on fakes, with 2,300 employees and 5,400 volunteers monitoring the sale of fakes on its platform, in addition to using data mining technology. Counterfeit and parallel goods are flooding the global e-commerce platform. However, the scale of the Alibaba platform and the demand for discounted goods by Chinese consumers have made the company's related problems even more serious. The company has been increasingly questioned since its September record of a $25 billion initial public offering. Analysts say the new rules are unlikely to get Tmall out of fakes or parallel imports. New York data provider L2Inc. Researcher EmmaLi said that the size and quantity of Tmall's parallel sellers is huge and difficult to monitor.
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