China’s market regulator has announced an investigation into reports of counterfeit goods being sold on Pinduoduo, the Tencent-backed shopping site which last week listed on the Nasdaq stock exchange.
The statement from the State Administration for Market Regulation said it had ordered Shanghai’s Industry and Commerce Bureau to interview the platform’s operators and told local regulatory bodies in China to “conscientiously carry out investigations” into media and consumer reports of intellectual property violations.
“Regardless of whether it is by third parties or internal platform operators, whenever there is illegality it will be dealt with severely in accordance with the law” the administration said.
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