Alibaba has also been under fire for sales of fake goods by its e-commerce vendors.
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Counterfeiters are using computer scanners to duplicate trademark labels and slap them on fake goods, says Ed C.
Online retailers see only a fraction of this spending, in part because of concerns over fake goods on Chinese websites.
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Getting a discount is also a sort of insurance policy against ending up with badly made or fake goods from Chinese shops.
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"I never thought I could make so much money fighting fake goods -- or that there are so many fakes out there, " says Wang, now 22.
Homes, offices and warehouses were hit, with police grabbing fake designer goods and counterfeit drugs as well as firearms and bullets.
The market for fake luxury goods is nothing new -- knock-off Louis Vuitton bags, Rolex watches -- but the Italian Ferrari ring is an example of just how sophisticated the industry has become in the last few years.
Chinese authorities have stepped up food inspections in recent years after a series of scandals over fake or shoddy goods.
When trading standards officers raided 33-year-old Richard Roosbey's home in North Common they found fake Hollister shirts, Ugg goods and Casio watches.
The fake products, known as Shanzhai, range from knock-offs of high-end luxury brands to everyday electronic goods.
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