Amazon to sell China cloud services unit in $300 million deal

Amazon to sell China cloud services unit in $300 million deal

Amazon.com is selling off the hardware from its public cloud business in China, amid tightening regulation over online data that is creating a hurdle for technology firms operating in the world's second-largest economy.

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.

"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.

"AWS continues to own the intellectual property for AWS Services worldwide".

Cloud services have become a crowded and competitive field in China in recent years, with Alibaba Group Holding Ltd's cloud unit opening over a dozen overseas data centres since 2016.

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Legal reasons appear to be the reason that Amazon is offloading the business.

Sinnet's statement to the markets reportedly says the purchase will help it "comply with our country's laws and rules and further improve the security and the service quality of the AWS cloud-computing service operated by the company".

"No, AWS did not sell its business in China and remains fully committed to ensuring Chinese customers continue to receive AWS's industry leading cloud services".

Earlier this year, Sinnet received instructions from the Chinese government to shut down VPN services that let subscribers circumvent China's "Great Firewall".

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