US Adds Messaging Platforms Of Alibaba, Tencent To Its Counterfeit List - Alibaba Gr Holding (NYSE:BABA), Tencent Holdings (OTC:TCEHY)

The U.S. added Alibaba Group Holding Ltd's BABA AliExpress and Tencent Holdings Ltd's TCEHY WeChat messaging platforms to its list of notorious markets for counterfeiting and piracy Bloomberg reports.
The messaging platforms were "two significant China-based online markets that reportedly facilitate substantial trademark counterfeiting," the Office of the U.S. Trade Representative said.
WeChat and Weixin, its China-facing version, are viewed as among the largest platforms for counterfeit goods in China, with more than 1.2 billion active users worldwide in 2021, USTR said.
The e-commerce system that works within WeChat is of particular concern, with rights holders identifying weakness in WeChat's seller vetting as a significant problem.
Pinduoduo Inc PDD, a leading Chinese online retailer, continues to be listed since its inclusion in 2019.
Alibaba's Taobao and Baidu Inc BIDU cloud-storage service Baidu Wangpan and e-commerce service provider DHgate.com Inc are also still on the list.
Price Action: BABA shares traded lower by 0.95% at $124.37 on the last check Thursday.