[ad_1]
Chip Somodevilla | Getty Images News | Getty Images
The founder of Amazon and Washington Post owner, Jeff Bezos, will speak at the opening ceremony of the new media company's location.
Amazon plans to close its domestic market in China by mid-July, people familiar with the case told Reuters on Wednesday, focusing on its more lucrative activities selling cloud products and services in the United States. abroad in the most populous country in the world.
Buyers in China will no longer be able to purchase products from other third-party merchants in the country, but they will still be able to order from the United States, the United Kingdom, Denmark, and Japan through the global store. Amazon. Amazon is expecting to close its distribution centers and reduce its support for merchants selling in China's domestic market in the next 90 days, said one of the interviewees.
Consumers in China will still be able to buy Kindle e-readers and online content, sources said anonymously. Amazon Web Services, its cloud unit that sells data storage and compute power to businesses, will also remain.
The company's Chinese market, which offers Chinese and foreign merchant products, is struggling to establish itself in the country's highly competitive online e-commerce market. Consumer Insights Group's iResearch Global said the Almaba, Tmall, and JD.com market held 81.9% of the Chinese market last year.
Amazon, the world's largest online retailer, bought the Chinese online sales website Joyo.com in 2004 for $ 75 million and renamed Amazon China in 2011.
Subscribe to CNBC on YouTube.
Look at: How Amazon paid $ 0 in income tax in 2018
[ad_2]
Source link