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Amazon ups spending in China

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Online bookseller Amazon is increasing investment in its Chinese business - where sales are growing faster than anywhere else.

The Chinese site sells books, watches, CDs, DVDs, and electronic gadgets. Amazon paid $75m for Joyo in 2004.

Jeff Bezos, chief executive of Amazon.com, did not give figures but said he wanted to "double down" investment. Bezos said "double down" was a backgammon term to increase your stake rather than a literal doubling of investment.

The site is being rebranded as Joyo Amazon.cn.

More from Bloomberg here. ®

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