Alibaba has sold one trillion RMB worth of goods in 2012. That is the equivalent of $157 billion in gross merchandise volume (GMV). This means that Alibaba has surpassed U.S. e-commerce companies Amazon.com and eBay combined.
Someone in China hacked into iTunes and was able to steal information about 50,000 accounts. The stolen credit card information was listed on Chinese auction website TaoBao.com. The buyers were promised temporary access to unlimited downloads for as low as 1 yuan at a time.
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