Taiwan gave the domestic branch of Alibaba's e-commerce site Taobao six months to re-register as a Chinese investment rather than a foreign one, or leave.
TAIPEI - Taiwan on Monday gave the domestic branch of Alibaba Group Holding Ltd's e-commerce site Taobao six months to re-register as a Chinese investment rather than a foreign one, or leave, in the government's latest shot against Chinese firms.
The investment commission of Taiwan's Economics Ministry said Taobao Taiwan was operated by a British-registered company called Claddagh Venture Investment, an investment firm that was in effect controlled by Alibaba. "We do not consider the company as foreign investment," commission spokesman Su Chi-Yun told Reuters."They will have to decide whether to disinvest or rectify their investment."
Taiwan treats investment from foreign countries differently than that from China, with far more stringent rules.
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