Ahead of Singles Day, the massive ecommerce shopping holiday celebrated on Nov. 11 in China, the Chinese government is warning ecommerce firms including giants Alibaba and JD.com to do all they can to keep all transactions free of fraud, according to TechInAsia.com.
China’s State Administration for Industry and Commerce (SAIC) reportedly met with ten of China’s top ecommerce companies to let them know they must take steps before sales are publicized to ensure consumer fraud is avoided.
Among the complaints Chinese officials received from past years: price manipulation, false claims of out-of-stock to avoid selling too many orders of an item, and using illegal superlatives like “the lowest price on the web” or “lowest price ever.”
On Singles Day 2013, $5.8 billion in gross market value was transacted through Alipay, Aliababa’s payment system, on its ecommerce platforms Taobao and Tmall, representing 254 million orders processed.
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