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Amazon.com Inc. announced in 2019 that it would close down their business in China by the 18 July 2019 to focus on cross-border selling to Chinese consumers. [40] Amazon China faced tough competition as the rivals like Alibaba started to gain more popularity. [41] They struggled for many years to gain traction and eventually stopped growing. [40]
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Amazon acquires Joyo, an online bookstore in China, for $75 million, which then becomes the 7th regional website of Amazon.com. joyo later becomes Amazon China. [105] 2005: February: Product: Amazon launches Amazon Prime, a membership offering free two-day shipping within the contiguous United States on all eligible purchases for a flat annual ...