Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Amazon.com, Inc.    AMZN

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Amazon enters free trade zone to boost offering in China - Xinhua

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/20/2014 | 05:13pm CEST

Amazon.com (>> Amazon.com, Inc.) will set up shop in China's Shanghai free trade zone, state media said on Wednesday, aiming to take advantage of less stringent trade regulations to sell a wider range of products in the country.

Amazon.com (>> Amazon.com, Inc.) will set up shop in China's Shanghai free trade zone, state media said on Wednesday, aiming to take advantage of less stringent trade regulations to sell a wider range of products in the country.

The U.S. online retailer's move signals its intent not only to remain in China but to beef up its presence in an e-commerce market dominated by Alibaba Group Holding [IPO-BABA.N] and Beijing-based JD.com (>> JD.Com Inc(ADR)), the second-biggest player.

Amazon signed a memorandum of cooperation "to develop cross-border e-commerce in the Shanghai free trade zone", state news agency Xinhua said, adding that the company will use the zone to expand its import business through the introduction of "Amazon's full global product line into the Chinese market".

Xinhua did not say when the company is likely to begin operations in the free trade zone and Amazon representatives in China and the United States were not available for immediate comment by telephone or email.

The company is also pushing its Amazon Web Services (AWS) cloud computing in China and said in December that the country will have its own AWS region to improve speeds for its mainly corporate customers.

However, persistent expansion has come at a cost, leaving Amazon with a $126 million (75.71 million pounds) loss in the second quarter. The company also forecast an operating loss of between $810 million and $410 million for the third quarter to Sept. 30, representing a sharp increase from its $25 million loss a year earlier.

'STRATEGIC OPPORTUNITY'

"Amazon must seize this strategic development opportunity" in the Shanghai free trade zone, Xinhua quoted Amazon's senior vice president of International Consumer Business, Diego Piacentini, as saying.

Amazon has also been hit by counterfeit goods that frequently plague companies in China, from fashion to pharmaceuticals and even food and drink.

In March Amazon said it will strengthen regulation of its online sales channels and that it had closed down a third-party store after state media criticised it for selling fake cosmetics.

Amazon's reported move to the free trade zone comes nearly a year after the zone was launched, attracting attention from overseas businesses and hailed as one of China's boldest reforms in decades. However, that hype has cooled amid a lack of specific policy details since the initial fanfare.

Foreign banks, such as Citigroup (>> Citigroup Inc) and HSBC Holdings (>> HSBC Holdings plc) have set up branches in the zone, but many foreign companies have been reluctant to follow suit, citing a lack of clarity on what will and will not be allowed in the zone.

(Reporting by Paul Carsten and Sui-Lee Wee; Editing by David Goodman)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AMAZON.COM, INC.
10:46p AMAZON COM : to occupy Frederick building, provide 1,000 jobs
10:25pDJAMAZON COM : to Shut Down Unprofitable Quidsi Division
10:16p AMAZON COM : Announces Second Houston-Area Fulfillment Center to Create 1,000 Fu..
08:53p DHL : Amazon acquisition of Souq is major opportunity
07:07p AMAZON COM : Same Day Delivery Made Possible by WarehouseOS Helping Small E-Comm..
04:17p AMAZON COM : to Open New Fulfillment Center in Virginia
04:02p AMAZON.COM, INC. (NASDAQ : AMZN) Unveils Click And Collect Grocery Stores
03:34p AMAZON.COM, INC. : Amazon and Tesla Expand Their Consumer Markets, Fueling Stock..
03:06p AMAZON COM : Greenlights Untitled McLaren Racing Docuseries Exclusively for Prim..
03:03p AMAZON COM : Looking beyond
More news
Sector news : Internet & Mail Order Department Stores
03/23DJMACY : Can the New CEO Save Macy's? -- Update
03/23DJMACY : Can This Man Save Macy's?
03/22 Kingfisher fears European political upheaval could hurt trade
03/17 Kering picks Fabrizio Malverdi as CEO of Italy's Brioni
03/14 CANADA'S HUDSON'S BAY IN TALKS TO BU : Wsj
More sector news : Internet & Mail Order Department Stores
News from SeekingAlpha
02:32p TECH BRIEF : Amazon Red-Lights Go; Facebook Green-Lights Snap Attack
01:26p Amazon Earnings Preview
11:03a Weak Bounce Wednesday - B-B-B-Brexit Baby!
09:24a AMD : Worth Over $15
08:58a Costco And Target - Loving One, Hating One, Buying Neither
Advertisement
Financials ($)
Sales 2017 165 148 M
EBIT 2017 5 599 M
Net income 2017 3 617 M
Finance 2017 24 823 M
Yield 2017 -
P/E ratio 2017 119,03
P/E ratio 2018 70,45
EV / Sales 2017 2,32x
EV / Sales 2018 1,86x
Capitalization 408 458 M
More Financials
Chart AMAZON.COM, INC.
Duration : Period :
Amazon.com, Inc. Technical Analysis Chart | AMZN | US0231351067 | 4-Traders
Full-screen chart
Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 946 $
Spread / Average Target 11%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
John Seely Brown Independent Director
Patricia Q. Stonesifer Independent Director
Tom A. Alberg Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
AMAZON.COM, INC.14.15%408 458
LIBERTY INTERACTIVE GR..-1.60%13 277
START TODAY CO.,LTD.20.50%6 908
MONOTARO CO.,LTD.46.84%3 811
WAYFAIR INC11.30%3 353
B2W COMPANHIA DIGITAL19.31%1 697
More Results