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American Amazon has decided to close the online store in China by July 18. Amazon was unable to implement its plans to conquer the Chinese e-commerce market against the backdrop of strong competition from Chinese companies such as Alibaba Holding, Tmall marketplace and JD.com, share of which in the PRC market, according to iResearch Global, was 82% in 2018. The American company intends to focus on sales of foreign goods through the Amazon Global Selling service and believes that interested sellers will be able to use it. The company promises them to ensure a smooth transition and provide their customers with the best quality service. Amazon will also focus on providing cloud services in China, intending to continue building up business in this most populous country in the world.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
Oil prices rose on Friday as the dollar dropped to a near two-year low, but demand worries amid rising coronavirus cases and the worsening U.S.-China tensions capped gains. Brent crude gained 0.4%, or 15 cents, at $43.46 per barrel. U.S. West ...
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