SAN FRANCISCO/BEIJING/HONG KONG—Amazon.com Inc said it will shut its China online store by July 18, as the U.S. e-commerce giant focuses on the lucrative businesses of selling overseas goods and cloud services in the world’s most populous nation.
The move underscores how entrenched, home-grown e-commerce rivals have made it difficult for Amazon’s marketplace to gain traction in China. Consumer research firm iResearch Global said Alibaba Group Holding’s Tmall marketplace and JD.com controlled 82 percent of the Chinese e-commerce market last year.
