Alibaba Chairman Jack Ma is vowing to address the sale of counterfeit goods on Taobao in a "transparent" way.

The comments come in response to the dispute between Taobao and China's commerce regulator, which has been quoted saying Alibaba isn't doing enough to fight counterfeiting.

"We are looking forward to how we can communicate to the rest of the world. We don't want we would misunderstood by the world, that we are not transparent, we don't want misunderstood by the world that Taobao is a platform of selling fake products."

Jack Ma has already met with the director of the State Administration for Industry and Commerce.

He says both have agreed to combat the sale of fake goods online.

"The problem we have last week already have the first stage of resolvement. But this thing, I think it's going to be very transparent, this thing is going to be pretty meaningful for e-commerce group development in China. And it's not supported by certain government officials, it is how we can do things in a good way, in good legal procedures, and so far, we are pretty happy and we are moving things ahead."

The dispute between Alibaba and the Chinese government has seen more than 30-billion US dollars wiped off the company's market cap.

Industry observers are suggesting the dispute may be the launching point of a more targeted anti-counterfeit campaign by both the government and the industry.