Amazon to close its online biz in China: Report
San Francisco: Retail giant Amazon will withdraw its domestic e-commerce marketplace business in China, effective from July 18, but will keep operating its other business sections, including Amazon Web Services, Kindle e-books and cross-border operations.
Facing stiff competition from local online marketplace operators, including Alibaba, JD.com as well as the fast-growing Pinduoduo, Amazon’s exit from e-commerce business would be the end of the company’s 15 years of journey into the China market.
“We are notifying sellers that we will no longer operate a marketplace on Amazon.cn (the Chinese-language site) and we will no longer be providing seller services on Amazon.cn effective July 18,” the company was quoted as saying by the Financial Times late on Monday.