Bloomberg reports that Amazon will raise spending on its money-losing unit in China to bolster sales in the largest Web market behind the U.S. The Chinese Web site, renamed Joyo Amazon.cn today, is the company’s fastest growing by sales, Chief Executive Officer Jeff Bezos told reporters in Beijing, without providing figures. Amazon bought the Beijing-based unit formerly known as Joyo.com Ltd. for $75 million in 2004. “With something growing this fast and doing this well, as far as investment goes, we would like to double down,” Bezos said. “Double down is a term used in backgammon, which means when you like the odds, you want to increase the investment.”
