China’s major e-commerce companies, from JD.com to Alibaba Group Holding, are rushing to take advantage of Beijing’s latest subsidies aimed at spurring consumer spending at the start of the year. Tmall, Alibaba’s premium shopping site carrying mainly established brands, on Wednesday kicked off new subsidies for shoppers buying home appliances. Rival JD.com on the same … Read more
Chinese online shopping giant JD.com reported a 92 per cent year-on-year jump in quarterly net income to 12.6 billion yuan (US$1.7 billion), despite a flattish revenue, as better operational efficiencies helped the company navigate intensifying competition in the domestic e-commerce industry. During the quarter ended June 30, the company achieved “growing economies of scale and … Read more
Chinese e-commerce giant JD.com is investing more than 6.5 billion yuan (US$900 million) with partners to bolster this year’s nationwide trade-in programme for home appliances and consumer goods, part of Beijing’s efforts to energise the country’s post-pandemic economic recovery. Most of that investment will be used to subsidise consumers for trading in their home appliances … Read more
