Mar 01, 2017 01:21 AM EST
Chinese e-commerce giant Alibaba has sought tougher laws, stricter enforcement and heavier penalties against retailers or vendors of counterfeit goods in China.
Alibaba announced China's "ambiguous counterfeiting laws" were hindering the ability of authorities to crack down on and build cases against counterfeiters, which has resulted in low conviction rate that is "the fundamental reason for the inefficiency in combating counterfeiting and protecting intellectual property."
The company has stated in its public appeal that current regulations are no longer able to cope with the need to fight counterfeiting.
"Criminals can escape any legal consequence, leaving law enforcement agents and consumers feeling helpless, and society bearing the damage." The company is now urging authorities to strengthen laws, boost enforcement and impose more punitive penalties to deter counterfeiters.
The company added that counterfeiting is damaging not only to consumers and legitimate merchants, but also to innovation and the long-term economic development of the country.
This issue could hinder China's growth as a responsible economic power, Alibaba further stated.
In the latest quarter results ending Dec. 31, 2016, Alibaba has posted a 54-percent increase in revenue to $7.67 billion compared to the previous corresponding period. Revenue from core commerce went up 45 percent to $6.70 billion.
Adjusted earnings before interest, taxes, depreciation and amortization saw a 41-percent increase to $3.89 billion in the quarter ending Dec. 31, 2016 compared to the previous corresponding period.
"Our robust December quarter demonstrates the strength of the Chinese consumer and Alibaba's ability to create value across our vast ecosystem," said Daniel Zhang, Alibaba Group CEO.
According to Maggie Wu, Alibaba Group CFO, because of the company's excellent quarter and with the three quarters of the year coming in ahead of expectations, the company has adjusted its 2017 fiscal year revenue guidance from 48 percent to 53 percent year-over-year growth.
And the world of NFTs expands far beyond art and collectibles. A new era of tokenized digital assets is being created using the blockchain. Here are seven unique NFT use cases that the interested investor should know.
However, there are some simple steps that anyone can take which will help to improve their performance when it comes to trading foreign exchange markets. Here are ten small things that can make a big difference in your FX trading success.
o prevent significant losses, risk management expertise is essential. His adage, "Rule No. 1: Never lose money," has become a stock market classic. Never forget Rule No. 1; this is Rule No. 2. This practice is followed by even the most successful investor, Warren Buffett, who advises others to follow suit.
One of the significant advancements is shifting the payment operations for remote workers. If the compliances are not met, it may lead to severe legal complications. The owner and organization may be held labially separately. The remote working lifestyle continuously grows and is a testament to becoming an endless working mode. Today we discuss components for payroll for remote workers
BRG International Founder Matias Alem had recognized this fact for a few years. So he remodeled his real estate brokerage into something completely new to solve the problem for his jet-setting international client base.
Ryan Early, hailed as 'Farmer Ryan' among sustainable agriculture experts, is a busy man. He has a laundry list of companies to his name, including Blue-Green Ventures, the company behind the revolutionary product, Blue MagicTM, a non-toxic and eco-sustainable pest preventative product using his patented BiomeMax TM Pheromonal Replication Technology.
Investor, financier, and expert in both cryptocurrencies and blockchain technology, Joy Mbanugo is the go-to in the sector. She has vast experience and knowledge across tax services, auditing, business operations, financial analysis, capital markets, and other specializations.
When Nick Collins was just 14 years old, he started his first business, which included around-the-clock phone calls and numerous questions from his parents. In fact, he began building his stout portfolio in the seventh grade by doing web design, incorporating creative content with brand strategies and plugging in a then-fledgling tech Flash.
Barry Gabster is the founder of InitiateU and is a leading proponent of the marketing mailer revolution, having already taken his company to 10x growth in 2021, alone. In fact, the exponential growth has seen the company rise from $800K-$8.5M just on word-of-mouth referrals.