Amazon is committed to establish in China, and is looking forward for significant business opportunities and growth potential for the next few years.
AWS admitted it's selling "certain physical infrastructure assets" to Sinnet, its seller-of-record in the country, as it denied reports that it was pulling out of China.
Amazon is selling a portion of its business to a Chinese technology company for roughly $300 million in order to comply with law in that country, according to multiple recent reports.
The U.S. company has agreed to sell its China-based web services business to Beijing Sinnet, the local partner that operates it, according to a filing on the Shenzhen Stock Exchange that was noted by The Wall Street Journal and Reuters. Laws that came into effect in June require firms to store data locally.
Amazon said in a statement, "AWS continues to own the intellectual property of AWS Services worldwide". In August, Sinnet told customers it would shut down VPNs and other services on its networks that allow users to circumvent China's so-called Great Firewall system of censorship, citing direct instructions from the government.
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Sinnet said in a regulatory filing on Monday that the purchase, which is still pending, would help it "comply with China's laws to further improve the company's AWS cloud services" in terms of quality and security.
AWS has a separate hardware venture in partnership with the Ningxia provincial government in China's northwest.
Foreign firms in China have long complained about local restrictions that appeared to favour domestic players. Companies targeted by the regulations are required to carry out a security self-assessment or obtain approval from the relevant regulator before transferring the controlled data overseas.
Whereas AWS is the public cloud leader globally, it has struggled to crack a Chinese market that has traditionally been served by its own tech firms.