Amazon to open Shanghai platform

US e-commerce giant Amazon.com Inc seems ready to capitalize on the massive purchasing power of Chinese customers, as it kicked off a planned foray into the China (Shanghai) Pilot Free Trade Zone, where innovative policies are expected to boost cross-border online trade.

A memorandum of understanding was signed between Amazon and the Shanghai FTZ on Monday, under which Amazon will open its new cross-border e-commerce platform in the free trade zone.

Amazon also will establish a logistics and warehouse center in the FTZ, whereby imported goods will enter China via the zone's cross-border e-commerce platform. Similarly, products from small and medium-sized enterprises in China can be sold to Amazon customers across the globe.