Jack MA urged the Chinese authorities to combat counterfeiting

The founder of Alibaba Group billionaire Jack MA urged the Chinese authorities to toughen the fight against fakes, the Financial Times reports.

According to the billionaire, the existing laws for the protection of producers of original goods is not sufficiently clear, and the penalties for manufacturing fakes is too low to allow 99% of counterfeit products sold freely.

Jack MA urged to punish producers of fake goods as well as for driving under the influence.

“If we were put on seven days in jail for each sold a fake, the world would look quite different both from the point of view of intellectual property rights, and from the point of view of safety of food and medicines,” said Jack MA in an open letter to the national people’s Congress the national people’s Congress (the highest legislative body of China). According to him, the tougher penalties for producers of counterfeit products will also help to stimulate innovation.

In June 2016, in response to accusations that Alibaba earns by selling fakes, Jack MA said that counterfeiting is the goods are often better quality than the originals, they are cheaper. According to him, such things are produced “at the same factories, from exactly the same materials, but do not use the original names”, as the Chinese manufacturers are simply using new technologies and Internet marketing, to make contact directly with buyers.

“The way of doing business changes the brands. This is a new business model, which led to the world revolution”, — said MA.

In the summer of 2016, Alibaba has faced criticism for selling fakes of branded goods on its retail platforms, such as Taobao.

Global Forbes list of billionaires updated in real time, Jack MA takes the 22nd place with a fortune of $28.6 billion