《TAIPEI TIMES 焦點》 Investment Commission tells Alibaba to quit ROC
Alibaba Group founder and chairman Jack Ma, center, speaks at an event at National Taiwan University in Taipei yesterday that was organized by the school’s student union and its counterparts at National Taiwan Normal University and National Taiwan University of Science and Technology. Photo: Lo Pei-der, Taipei Times
/ Bloomberg
Taiwan’s investment regulator has asked Alibaba Group Holding Ltd (阿里巴巴) to exit by the end of August because its local entity is registered as Singaporean instead of Chinese.
“We have asked Alibaba to leave,” Investment Commission acting executive secretary Emile Chang (張銘斌) said by telephone. “We want mainland investors who invest in Taiwan to follow the rules.”
Alibaba breached Taiwan’s investment regulations by going through Singapore even though it is a Chinese company, Chang said.
While Alibaba registered in Taiwan in 2008, the company’s filings for its US share sale last year provided the evidence of Chinese control over the company’s Singapore unit, he said.
Like many Chinese corporations, Alibaba relies on holding firms to operate and raise funds overseas, with the US-listed entity being a Cayman Islands company.
Chinese business investments in Taiwan require approval from the Investment Commission.
“We will actively communicate with related parties to clarify the issues and, if necessary, will take proper actions to protect the legitimate interests of Alibaba.com,” the Hangzhou-based company said in an e-mailed statement.
While the application process for an investment from China takes about two months, Chang said he “cannot guarantee” that any new application by Alibaba to operate domestically would be approved before the August deadline.
“Alibaba’s Singapore subsidiary did not get approval from my office,” Chang said. “They can choose to sell the branch to another investor” or close it.
Meanwhile, Alibaba founder Jack Ma (馬雲) said the company followed local laws when it entered the market.
“Taiwan is very important for Alibaba,” Ma told reporters yesterday after delivering a speech to university students in Taipei. “As a global company, no matter where we go in the world, we need to comply with the local laws.”
Alibaba employs about 100 people in Taiwan and Alibaba.com has 140,000 registered users in the market, the company says.
新聞來源:TAIPEI TIMES