BEIJING – Chinese regulators have accused e-commerce giant Alibaba of allowing sales of fake and shoddy goods and other mismanagement in a report that was withheld until now to avoid disrupting its U.S. stock market debut.
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The report Wednesday by China's industrial regulator said Alibaba allowed unlicensed merchants to use its sales platforms and failed to protect consumers' rights adequately.
The report was the result of a meeting in July but said it was withheld to avoid affecting progress toward Alibaba's stock market listing in New York. The company went public in September after raising a record $25 billion in an initial public stock offering.
An Alibaba spokesman said the company was preparing a public statement about the report.