Amazon China to close local marketplace and place more focus on cross-border

Amazon has finally given up the fight with Chinese online shopping giants to capture the domestic market. "We are working closely with our sellers to ensure a smooth transition and to continue to deliver the best customer experience possible," an Amazon spokesperson told TechCrunch, adding that this segment of the business will end on July 18. The partial retreat, first reported by Reuters and Bloomberg, is indicative of the relentless e-commerce race in China where Alibaba and JD.com dominate, with newcomer Pinduoduo closing on the incumbents' heels.