Amazon would close the Chinese e-commerce store

[ad_1] Inc. is preparing to close a Chinese online store that serves consumers in China according to people familiar with the matter.

Other Amazon operations in China, such as Amazon Web Services, Kindle e-books and international equipment that help ship goods from Chinese merchants to overseas customers, will continue to operate, said the people, who asked not to be identified because the subject matter is private

The withdrawal of Chinese e-commerce represents a major setback for the company and chief executive Jeff Bezos, known for its willingness to cover losses for long-term gains. Amazon has struggled to win customers from Alibaba Group Holding Ltd. and Inc., even after investing in warehouses, data centers and the acquisition of Joyo online bookstore in 2004.

The retreat is the latest sign that Amazon is ceding to China to be able to focus on India, where it is more likely to become a dominant player.

Amazon did not immediately respond to requests for comments.

Reuters previously reported on the closure of its store in China.


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