Markets

Amazon Sells Portion Of Business For $300 Million Because Of Chinese Law

Amazon Sells Portion Of Business For $300 Million Because Of Chinese Law

"In order to comply with Chinese law, AWS sold certain physical infrastructure assets to Sinnet", a spokesman for the Amazon.com cloud-services unit said on November 14, adding AWS would still own the intellectual property for its services worldwide.

"In order to comply with Chinese law, AWS sold certain physical infrastructure assets to Sinnet", an AWS spokesman said on Tuesday, adding AWS would still own the intellectual property for its services worldwide.

Amazon said on its website that its public cloud services in the country are exclusively managed by Sinnet. It said instead it was selling hardware to comply with laws that forbid ownership or operation of certain types of cloud technology.

The company confirmed that it has sold off its Amazon Web Services (AWS) infrastructure to Sinnet, its local technology partner.

Amazon is committed to establish in China, and is looking forward for significant business opportunities and growth potential for the next few years. This year in August, Sinnet told customers that it would shut down the VPNs and other services on its networks that helped users to get over China's Great Firewall.

Other tech giants from the US faced hard situations in China.

AWS first launched a China service in 2014, but must operate via local partners to comply with Chinese law, with companies required to store data locally in legislation enacted in June. But the US company has to deal with lawsintroduced this year that mandate the storage of data within the country and bolster government control over the movement of information.

The move casts a shadow over similar foreign ventures in the country.

Foreign firms in China have long complained about local restrictions that appeared to favour domestic players.

According to Synergy, 80% of China cloud services are provided by China companies and about 50% of China based data centres are owned by China-based organisations.


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