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Amazon sells off China cloud assets as tough new rules bite

Amazon sells off China cloud assets as tough new rules biteAmazon.com Inc 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. Beijing Sinnet Technology Co Ltd, Amazon’s China partner, said in a filing late on Monday that it would buy the U.S. firm’s Amazon Web Services (AWS) public cloud computing unit in China for up to 2 billion yuan ($301.2 million).

Source: Yahoo Finance

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