Amazon China announced a tripartite memorandum of understanding with China (Shanghai) Free Trade Zone (FTZ) and Shanghai Information Investment Co., Ltd.
Three parties will carry out cross-border e-commerce business and build online cross-border e-commerce platform, with which Chinese consumers can buy products of Amazon Global conveniently which are currently only available in other countries. At the same time, SME in China and export to other countries with respective services from Amazon.
Under the MOU, Amazon China will invest and build Amazon China International Trade headquarter in the FTZ, promoting Shanghai to be a global hub for cross-border trade. Meanwhile, Amazon plans to build logistics and warehousing centers in the free trade zone. Amazon selected product will enter the Chinese foreign trade zone by cross-border e-commerce platform, while the domestic high-quality merchandise from SME easily gets exported to overseas markets.