Amazon to close online operations in China
Amazon plans to close down online retail operations in China, admitting defeat to local e-commerce rivals such as Alibaba and JD.com. Amazon will continue other operations such as Amazon Web Services in China. Amazon entered China in 2004, when it acquired a local online book seller for USD 75 million. Prime membership programme of Amazon was launched in China in 2016 to lure customers with high-quality Western goods and free international deliveries.
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Tags: China • Companies • E-commerce • JD.com • Marketing
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