Chinese Taobao.com Targets Online Credit Speculation
- On August 5, 2009
Chinese online auction website Taobao.com is calling on its 130 million users to join a campaign to fight against online credit speculation.
Taobao.com, a subsidiary of B2B Internet giant Alibaba.com, is asking all its members to conduct a self-inspection on their credit records and remove all false credit information by combining their own inspection with the audit of Taobao.com.
As one of the leading online service providers in China, Taobao.com has set up a credit evaluation system for sellers and buyers to comment on each other and have the comments serve as reference for other Internet users. However, according to a representative from Taobao.com, some illegal companies and individuals are taking advantage of this system to assist others in boosting their credit to make a profit and this has given way to the growth of a grey industry chain.