Amazon makes progress in China

|By:, SA News Editor

Amazon (NASDAQ:AMZN) says it has signed deals in China which will pave the way for it to open in a new free-trade zone in Shanghai.

The company plans to open a logistics warehouse in Shanghai to help it export goods from local producers.

What to watch: The initiative should eventually help Chinese buyers make purchases on Amazon and shift the company a bit closer to a direct-selling model. It's also a step in taking on Alibaba (Pending:BABA) - the "800-lb gorilla" in the region.