Amazon to set up in Shanghai free trade zone to boost its offerings in China: Xinhua
Published on Aug 20, 2014 11:20 PM
BEIJING (REUTERS) - Amazon.com will set up shop in China's Shanghai free trade zone, state media said on Wednesday, aiming to take advantage of less stringent trade regulations to sell a wider range of products in the country.
The US online retailer's move signals its intent not only to remain in China but to beef up its presence in an e-commerce market dominated by Alibaba Group Holding and Beijing-based JD.com, the second-biggest player.
Amazon signed a memorandum of cooperation "to develop cross-border e-commerce in the Shanghai free trade zone", state news agency Xinhua said, adding that the company will use the zone to expand its import business through the introduction of "Amazon's full global product line into the Chinese market".
Xinhua did not say when the company is likely to begin operations in the free trade zone and Amazon representatives in China and the United States were not available for immediate comment by telephone or email.
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