China seems a place full of magic when it comes to international tech business – following Google’s withdrawal, eBay’s leave and Uber’s acquisition, another e-commerce giant, Amazon, is reportedly retreating from the market, leaving only Kindle and cross border selling units running in China. Amazon’s entry was blessed with a good start and its market share peaked in 2008, at 15%, but since has gone downhill quickly and fell behind its local rival Alibaba and JD.com. The rebound came along with the cross-border e-commerce upsurge tapping the trend of overseas purchasing by Chinese people dating back to 2014. However, the competition has been getting fierce and Amazon started losing ground to late comers such as NetEase Kaola and Ymatou.
