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Reuters reports that Amazon.com "is prepared to run losses in China to secure a position among the top three players by sales in the country's cut-throat but booming e-commerce market, its China chief said on Thursday.

"China's $36 billion e-commerce industry is hyper-competitive with online retailers and marketplaces such as Dangdang Inc., 360buy and Alibaba Group's Taobao Mall frequently launching price wars and marketing campaigns to win market share."

"We are not so concerned about when we make money or how much money we make," Wang Hanhua tells Reuters. "We tend to take a very long-term view of things. We believe that China's e-commerce eventually will be huge. It's not going to be a winner-takes-all market...We will definitely aim for the top three in China."
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