World Economy

Chinese Fakes

Chinese FakesChinese Fakes

More than 40% of goods sold online in China last year were either counterfeits or of bad quality, the state-run Xinhua news agency said, citing an official report on implementation of the Law on the Protection of the Rights and Interests of Consumers, AsiaFirst reported. Only 58.7% of items sold online last year were “genuine or of good quality”, said the report, which was submitted to the country’s top lawmakers on Monday. The report called for “accelerated legislation in e-commerce, improved supervision and clarification of consumers’ rights and sellers’ responsibilities”, Reuters said. It added these were needed due to the rapid emergence of online sales, which grew 40% last year to 2.8 trillion yuan ($441.84 billion).