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Alibaba, Pinduoduo Attract More Trouble From China

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Alibaba, Pinduoduo Attract More Trouble From China
  • Bloomberg reports that Alibaba Group Holding Ltd (NYSE: BABA) and Pinduoduo Inc (NASDAQ: PDD) brace for more trouble as China seeks tighter intellectual property norms on the e-commerce sector.
  • The State Administration for Market Regulation proposes restricting the e-commerce platforms from online business operations, including revoking licenses if they fail to deal with severe violations of IP rights on their platforms.
  • In 2019, Pinduoduo joined the U.S. Notorious Markets list after Alibaba and other Chinese firms over counterfeit product allegations.
  • Pinduoduo also battled IP issues in China, ranging from copyright infringement or trademark registrations. Amazon.com Inc (NASDAQ: AMZN) has also faced counterfeit charges.
  • Alibaba co-founder Jack Ma defended the allegations by highlighting the fake good's quality and prices making them difficult to separate from the authentic ones.
  • Price Action: BABA shares traded higher by 3.33% at $167.69, and PDD shares traded higher by 2.65% at $97.50 in the premarket session on the last check Tuesday.
 

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