Amazon Is Preparing to Close a Chinese E-Commerce StoreMore
(Bloomberg) — In a rare retreat for Amazon.com Inc., the e-commerce giant plans to shut down its Chinese marketplace business in July as it shifts its focus to offering mainland consumers overseas products rather than goods from local sellers.
Amazon will keep running its other businesses in China, including Amazon Web Services, Kindle e-books, and cross-border operations that help ship goods from Chinese merchants to customers abroad. Starting on July 18, customers logging in to Amazon’s Chinese web portal, Amazon.cn, will only see a selection of goods from its global store, rather than products from third-party sellers.
Pulling out of Chinese e-commerce represents a setback for the company in the world’s largest retail market and for Chief Executive Officer