Current Affairs - Business - Discussion

Amazon plans to close down online retail operations in China, admitting defeat to local e-commerce rivals such as Alibaba and JD.com. They will continue other operations in China such as Amazon Web Services (AWS). Kindle e-books and teams that help ship goods from Chinese merchants to customers abroad. Amazon entered China in 2004, when it acquired a local online book seller for USD 75 million. They launched its Prime membership programme in China in 2016 with aim to lure customers with high-quality Western goods and perks like free international deliveries.