Alibaba has been ordered to get out of Taiwan within six months, due to claims that it has violated rules required for a Chinese company.

 

 

Flying high around the world but booted by its next-door neighbor. Alibaba has been given its marching orders in Taiwan. Officials ordering the Chinese e-trade giant to get out within six months, claiming it has violated rules required for a Chinese company. (SOUNDBITE) (English) REUTERS REPORTER, TARA JOSEPH, SAYING: "The snag for Alibaba in Taiwan comes as a result of its shareholding structure. Even though the business is listed in the United States, the Taiwan government is considering it a mainland Chinese business. It's very difficult for mainland companies to do business in Taiwan because of political ties." Alibaba says it plans to actively communicate with the Taiwanese authorities. This hiccup is more of a hit to its reputation than its bottom line, and follows claims that counterfeit goods are sold on its heavily trafficked online shopping platforms. Links between China and Taiwan have grown in recent years through manufacturing and tourism. But China still considers Taiwan a renegade province and has not ruled out the use of force to take it back. Alibaba's CEO Jack Ma seems to be working hard to mend those fences - setting aside more than 300 million dollars (USD) to invest in Taiwanese entrepreneurs who start their own businesses through his company. But that may not be enough to stop Alibaba from becoming the latest victim of a long-standing political standoff.

Article: iHavenet.com

Alibaba Down and Out in Taiwan | Current Events in Taiwan