"Taobao is the Chinese version of amazon."
Colloquially, "Taobao is the Amazon of China" is probably the most common, as Joshua Tian mentioned.
In (formal) writing, you could use any of these constructs.
- Taobao is the Chinese equivalent/counterpart of Amazon. (like your sentence)
- Taobao is to China what Amazon is to America. (idiomatic phrase "A is to X what B is to Y")
- What Amazon is to the United States, Taobao is to China. (same idea with different ordering)
- (Just) As Amazon is the behemoth commerce site in America, so is Taobao in China. (as ... so)