According to local reports, Taobao has been available to Taiwanese consumers but currencies were converted into Chinese yuan. To reduce the inconvenience. Tao1shop was launched to give audiences an easier platform to open accounts on Alipay to exchange Taiwanese dollars into yuan.
Reports quoting the Taiwanese Market Intelligence and Consulting Institute note that Taiwan’s online trading volume may produce up to US$8.7 billion this year.
Taobao’s expansion is in line with Alibaba Group’s bolstered focus on the thriving platform. In August, the company announced its plans to strengthen operational ties between Taobao and its B2B site Alibaba to offer global vendors a wider range of distribution channels, as well as inking a partnership with video website Youku.com to provide a video gallery for digital retailers.
That month, Alibaba Group also announced its plan to shift classified listings site Koubei.com from Yahoo China to Taobao, which led to the rumoured exodus of 100 Beijing-based China Yahoo employees who decided to resign instead of transfer to Hangzhou as part of the deal.
