TAIPEI: Taiwan has ordered Alibaba Group Holding Ltd to withdraw from the island within six months because the online retailer had violated investment rules required for a Chinese company, an economics ministry official said.
Alibaba had been fined 120,000 Taiwanese dollar (US$3,824) and must withdraw or transfer its holdings from its operation in Taiwan, Emile M.P. Chang, acting executive secretary for the Investment Commission, told Reuters.
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