Amazon to close its online biz in China: Report

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. 

Amazon to close its online biz in China: Report
Amazon shoppers in China will no longer be able to buy goods from third-party merchants in the country. Reuters
By IANS
Updated: Tue, Apr 23, 2019
04:06 pm
San Francisco, IANS
RELATED NEWS
Retailer Amazon nears victory in rainforest battle over domain name Retailer Amazon nears victory in rainforest battle over domain name
Now, you can book flight tickets on Amazon: Get cashback up to Rs 2,000 - Check process Now, you can book flight tickets on Amazon: Get cashback up to Rs 2,000 - Check process
Amazon flight ticket booking offer: No extra cancellation fee! Now, book domestic flight tickets with Amazon Pay Amazon flight ticket booking offer: No extra cancellation fee! Now, book domestic flight tickets with Amazon Pay
Amazon launches flight booking service in India Amazon launches flight booking service in India

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.

Agency data suggested that Alibaba owns 58.2 per cent of China's e-commerce market in terms of sales, followed by JD.com's 16.3 per cent and Pinduoduo's 5.2 per cent, said a Sina report in July 2018, according to the ZDNet.

Watch Zee Business Live TV here:

Meanwhile, Amazon shoppers in China will no longer be able to buy goods from third-party merchants in the country, but they still will be able to order from the US, Britain, Germany and Japan via the retail giant's global store.