Amazon wants to push lending business in the Chinese market | Challenge Alibaba

Amazon finally began to consider the introduction of small and micro business loans in China, which may make it in this market with Alibaba short-handed.

Recruitment information leaks opener: Amazon wants to push lending business in China

According to the recruitment information released on June 19, Amazon will recruit a manager for the lending business unit, 'Competently responsible for a strategic project partner in China'.

China is the world's leading e-commerce market, making it an unmissable battleground for e-commerce companies that want to build a global 'empire'. Last year, Chinese consumers' online shopping spending was $1.1 trillion, compared to 2016. The growth rate is 32%, which is more than twice that of the US. Amazon found it difficult to enter the Chinese market. The main reason is the fierce competition from Chinese competitors such as Alibaba and JD. According to market research firm Ai Rui, although more than ten years It has already entered the Chinese market before, and Amazon's share of China's e-commerce sector is less than 2%.

Therefore, the lending business may be a way for Amazon to reverse this unfavorable situation by encouraging businesses to use their platforms. Amazon expanded its lending business to small businesses in 2011. Last week, Google announced a strategic cooperation agreement with Jingdong to the latter. The investment of 550 million U.S. dollars will undoubtedly increase the urgency for Amazon to cooperate with more businesses in China.

Although Amazon announced its plan to launch lending business in China and seven other countries as early as 2015, two years later it stated in a press release that it only conducted lending in the United States, Japan, and the United Kingdom.

Amazon is very popular with Chinese talents, recruiting 476 jobs in China, including sales and software and hardware development engineers. Applicants for the lending department are required to be fluent in Chinese and English, and work experience in consumer credit or small business finance.

The Amazon spokesperson declined to comment.

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