Alibaba Group Holding Limited (NYSE: BABA)-founder Jack Ma calls on China’s top lawmakers to introduce harsher laws on fake goods. In an open letter published on his Weibo account Tuesday, the founder and the executive chairman of the Alibaba Group Holding Ltd. wants Chinese legislators to introduce “laws on counterfeiting as tough as those on drunk driving”
“Without such strict law enforcement, we would surely see many more traffic accidents. On the contrary, the majority of counterfeiters are not held legally responsible for their actions. Because counterfeiting is such a low-risk crime, it’s hard to imagine how we can effectively rid society of counterfeit goods,” Mr. Ma wrote in a Weibo post.
Alibaba has been criticized for selling fake goods on its e-commerce platform like Taobao and Tianmao. This harmed Ma’s ambitions for global expansion. “We need to fight counterfeits the same way we fight drunk driving. For example, if the penalty for even one fake product manufactured or sold was a seven-day prison sentence, the world would look very different, both in terms of intellectual property enforcement and food and drug safety, as well as our ability to foster innovation,” he wrote.