US Adds Messaging Platforms Of Alibaba, Tencent To Its Counterfeit List

  • 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.
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