Amazon admits defeat in China? Rumors swirl around withdrawal

Amazon admits defeat in China? Rumors swirl around withdrawal

Alibaba and JD.com’s dominance over the Chinese e-commerce market looks to be secured as rumors are swirling around a withdrawal from Amazon.

According to a report published by the Drum, the US online shopping behemoth is expected to confirm its intention to pull out of China in a statement this week. Its staff are said to be seeking alternative employment already.

Together Alibaba and JD.com account for some 85 percent of China’s US$186.13 billion e-commerce market; to date Amazon has only managed to carve out a tiny 0.8 percent share since its launch in 2004.

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