Amazon To Sell Part Of Cloud Computing Business for $301 Million

Amazon surrenders cheapest bit of Chinese cloud

The 2 billion yuan (US$301.2 million) transaction was arranged in order to comply with national security laws that prevent non-Chinese companies from owning certain critical infrastructure assets, including those involved with the delivery of cloud services.

Tech titan Amazon is set to sell part of its cloud computing business in China to partner Beijing Sinnet Technology for over $300m.

"In order to comply with Chinese law, AWS sold certain physical infrastructure assets to Sinnet", said AWS earlier today.

Amazon Web Services confirmed in a statement reported by WSJ that this move was meant to meet compliance requirements in China.

The spokesperson added that the company was excited about its business in China and its potential for growth.

Amazon isn't the only one to make decisions based off a desire to stay in China.

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The company explained: "Chinese law forbids non-Chinese companies from owning or operating certain technology for the provision of cloud services".

The U.S. ecommerce giant signed a deal to allow Sonnet use AWS services in China in August 2016.

AWS has another hardware venture with the provincial government in Ningxia located in the northwest region of China. Amazon's Chinese equivalent, Alibaba, leads the way having launched its own public cloud service in 2009 before expanding globally.

Analysts said they expect other foreign companies like IBM and Oracle, to ensure compliance with regulators if they want to provide services such as public cloud in China. Some U.S. -based trade groups say that China has repeatedly lent deaf ears to the requests by U.S. firms on giving access to Chinese markets just like the Chinese firms get in the U.S. However, the Trump administration has hardly done anything to address the issue.

Foreign firms in China have long complained about local restrictions that appeared to favour domestic players.

Amazon shares acquired 50 cents to $1,129.67 mid-morning Tuesday.

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