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Alibaba Spent $161 Million Fighting Fakes Since 2013

By Clip Syndicate
China's Alibaba Group Holding, the world's largest e-commerce company, spent over 1 billion yuan ($160.7 million) combating fake goods and for improving customer protection from the beginning of 2013 to the end of November, the firm said Tuesday. "From Alibaba Group's perspective, we bear a serious responsibility in this fight against counterfeits," said Alibaba Chief Executive Jonathan Lu in a statement.






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