US technology giant Amazon has opened an IoT lab in Shenzhen. Photo: Handout

Amazon will likely announce the closing of its e-commerce and cloud businesses in China, Beijing Business Today reported.

There is market speculation that the US technology giant has decided to close its major businesses in China, except for Kindle and cross-border e-commerce, the report said, adding that the announcement will be made sometime this week. Amazon didn’t offer an immediate response to the newspapers’ request for comment.

Presently, Amazon has four key business units in China: the cross-border e-commerce which mainly sells overseas products to Chinese customers, the Amazon Read businesses, Amazon logistics and the cloud computing services.

The development is not a surprise, an industry insider was quoted as saying. The company’s market share in the e-commerce sector is relatively small, compared with its competitors Alibaba and

And for cross-border e-commerce in China, Amazon has only a 5.9% marketshare as of Q2 in 2018, while Tmall International accounted for 29.1%, NetEase Kaola 22.6% and JD Global 13.7%.

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