Alibaba vows to tackle fakes

Alibaba Group Holding Ltd, China's biggest e-commerce company, plans to step up efforts to fight counterfeiting, which the company head says is the biggest obstacle for its future development.

The Hangzhou-based company will spend "as much as it can" to tackle counterfeiting problems on its e-commerce websites, said Shao Xiaofeng, Alibaba's chief risk officer.

The company will set up a committee for intellectual property rights protection this year, which will have Lu Zhaoxi, its new CEO starting on May 10, as head and Alibaba's different business division leaders as members, Shao said.