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About: http://data.cimple.eu/news-article/efc20da8228ecda49ec14a8fb54b66d575d1a1a8af2897c1d060c2e1 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Online marketplace Taobao Taiwan said Thursday it will shut down its service at the end of the year after being told by the government to register as Chinese. The move comes as relations between Taipei and Beijing have grown increasingly strained as the island looks to maintain its distance from the Asian superpower. The company said it had decided to stop taking new orders around noon Thursday before officially going off-line on December 31 after "prudent evaluations". Taobao Taiwan is registered as a foreign company through its operator -- UK-registered Claddagh Venture Investment -- but Taiwanese authorities deemed that it was in effect controlled by Chinese e-commerce giant Alibaba. The island's Investment Commission in August fined Claddagh Tw$410,000 (US$13,700) for violating local law governing Chinese investments and gave it six months to "rectify" the situation or withdraw its investment. The commission started the probe after a former lawmaker claimed it was illegally operating on the island as it shared the same platform with Alibaba-owned Taobao. Under Taiwan's regulations, a company is considered a Chinese investment if a Chinese entity owns more than 30 percent of its shares or has "effective control" over its operations. The commission ruled that Claddagh is in effect controlled by Alibaba, even though it holds less than 30 percent of its shares. Taiwan has stricter rules on investments from mainland China compared with other foreign countries, reflecting the lingering hostilities between the two sides, which split in 1949 after a civil war. China still claims democratic self-ruling Taiwan as part of its territory awaiting reunification, by force if must. It has stepped up pressure since President Tsai Ing-wen came to power in 2016 as she rejects its view that the island is part of "one China". Tsai, who views Taiwan as "already independent" won re-election in a landslide in January. The commission last year rejected a bid by a Hong Kong-led consortium to build a twin skyscraper in Taipei citing national security concerns, arguing the company was too heavily influenced by Beijing. aw/dan
schema:headline	Taobao Taiwan to close after China-registration row
schema:mentions	Alibaba Group Superpower Taobao Tsai Ing-wen E-commerce Mainland China Skyscraper Landslide victory Asia Taiwan China President of the United States Claddagh Free area of the Republic of China Online marketplace Chinese Civil War Chinese unification Government of the Republic of China Cleveland Browns relocation controversy Government of China
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-10-15 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	86 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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