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China plans to boost investment overseas in challenge to Amazon


A number of boxes of goods are placed on the ground.

Zhang Peng | LightRocket | Getty Images

GUANGZHOU, China — JD.comCNBC spoke to one top executive about plans to expand overseas investment as Chinese ecommerce giants seek to tap international buyers.

Technology giant Google has shown less aggression than its competitor AlibabaIt is expanding overseas. However, international expansion by both Chinese companies could threaten the dominance of e-commerce. AmazonCertain parts of the planet plans to “increase investments in countries that comply with JD’s strategies over the next years,” Xin Lujun, the Xin Lijun. newly-appointed chief executiveA translation by CNBC shows that JD spoke Mandarin about his retail business.

Xin indicated that JD was conducting “further strategic analyses in Vietnam and Europe”, as possible locations for expansion.

China singles day

Xin gave the interview as China’s Singles Day is well underway.

The mega shopping festival — which sells more goods than Black Friday and Cyber Monday combined —sees massive discounts across China’s e-commerce platforms, which rake in billions of dollars of sales

JD has been expanding internationally through investments and joint ventures. and Central Group, a Thai retailer, formed a joint venture to launch an ecommerce platform in Thailand for 2018. became Tiki’s largest shareholder in 2019, becoming the second-largest shareholder.

JD will benefit from the improved international business environment.

Xin Lijun

JD Retail’s CEO, which JD operates for international customers, is another JD product. It’s a competitor to Alibaba’s AliExpress.

Xin stated that JD’s logistic arm was being leading the international expansion efforts for the groupDifferent from other companies.

“This makes a huge difference when it comes to global expansion, compared to other companies. We provide integrated, closed-loop service. This allows us to do well in foreign markets,” Xin explained.

“I believe that as the Covid-19 pandemic is less severe and companies continue to develop new medicines, JD’s international business will be better served by the improved international business environment,” he said.

JD welcomes regulation, says JD

The year 2012 Singles Day, or Double 11 as it’s known because it falls on Nov. 11, has a different feelIt is. This comes at a time when the Chinese technology industry has been subject to a slew new regulations over the last year, and President Xi Jinping promotes “common prosperity.”

JD as well as Alibaba, have emphasized the importance of inclusiveness and sustainability in this year’s Chinese social responsibility agenda. The companies have also stopped touting large discounts and high-sales, which they used to do in past years.

Beijing introduced new regulations in areas ranging from antitrustFor internet platforms data protectionThe new rules are. Investors were caught off guard by the new rules, which led to millions of dollars in value being wiped out of China’s internet sector during the past year.

JD is supportive of regulations, as they can help limit companies’ behavior, provide better services to consumers, and foster fair competition.

Xin Lijun

JD Retail’s CEO

This April Alibaba was fined $2.8 billion as part of an antitrust probeJD has not yet received any severe punishments like this. JD is not currently facing any serious punishment.

Xin indicated that JD supports new regulations and finds them to be “positive.”

Partner and regulators can consider JD to be a competent student. “Almost all our services comply with the strictest regulations,” he stated. JD supports regulations as they limit the behavior of companies, allow consumers to get better services and foster fair competition.