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"For brands that want to come to China, the most important piece of working with Tmall is (that) brands can understand where they need to have their products and when," Fontana said.

"For a high-tech private company to succeed in this world, innovation is the only way," he said.

"For example, the companies have the right to close the accounts if the users refuse to pay the fees or violate regulations. So the accounts cannot be simply classified as the users' virtual property."

"Governments can foster market-oriented development and broad-based growth by creating rules that help businesses launch, hire and expand," World Bank Group President David Malpass said. "Removing barriers facing entrepreneurs generates better jobs, more tax revenues and higher incomes, all of which are necessary to reduce poverty and raise living standards."

"Given the relevance of confidence, policy measures to preempt adverse market and public sentiment from taking hold would be important," he said.