Taiwan tells Alibaba's local Taobao site to re-register or leave island

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. Amid growing political tension, Taiwan has stepped up oversight of Chinese investment and the operations of Chinese tech firms on the island. 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.