Now,many individuals from USA are curious about purchase low-cost merchandise from china, And there’s a excellent news for them, China has created a brand new legislation to impose heavy fines on web procuring web sites which publish false commercials about their merchandise. The brand new legislation goals to wash up China’s web procuring web sites simply earlier than Singles Day – the nation’s busiest on-line procuring day of the yr. Final yr’s Singles Day noticed gross sales value nearly $18bn (13.7bn) in 24 hours. Chinese language shoppers positioned 657 million orders. Most Singles Day distributors promote by the web platform Alibaba, which has been closely criticised for failing to police the claims some sellers put up about their merchandise. The authorities are additionally making an attempt to cease the usage of a method often called brushing – when distributors stage fictitious gross sales to be able to enhance their standing in web site search outcomes. China in August launched a digital “cyber-court” to assist cope with an increase within the variety of internet-related claims, together with on-line procuring disputes. Initially claimed as a celebration for China’s younger singletons, Alibaba turned it right into a procuring bonanza in 2009. Singles Day is held yearly on 11 November. The day can be known as Double Eleven due to its date. Whereas Alibaba is undeniably the driving drive behind the occasion, different retailers have additionally began to piggyback off the thought, together with extending it to Hong Kong and Taiwan. In August Alibaba reported robust earnings, posting a 56% rise in quarterly income. The US-listed agency has been on a robust run, repeatedly beating income estimates, and its shares have greater than doubled in worth this yr. It expects extra excellent news for shareholders forward: Alibaba raised its income steering for the 2018 fiscal yr to progress of between 49% and 53%. That is up from 45% to 49% beforehand forecast. “We are seeing the early results from our efforts to integrate online and offline with our new retail strategy”. The Chinese language agency can be gearing up for the annual blockbuster Singles’ Day occasion on November 11, a gross sales bonanza that strikes extra items than the Black Friday and Cyber Monday gross sales days in the USA mixed. Analysts say that Asia on the whole and China specifically are on the centre of the worldwide shift in direction of e-commerce.