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JD.com International Expansion Eyes beyond China

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Chinese e-commerce giant JD.com is looking beyond its borders in its efforts to add more international customers, a senior executive told CNBC, a move some believe could help the company acquire a small stake. to market by retail giant Amazon in some areas.

JD.com will increase investment in countries that align with JDs strategies, whether they are in warehousing, logistics or supply chain in the next few years, said Xin Lijun, JDs’ new retail chief executive. according to a CNBC translation. . Specifically, he said JD is exploring further strategic analysis in Vietnam and Europe.

So far, JD has used joint ventures and ventures for its international expansion, starting with a joint venture with Thai retailer Central Group in 2017 that led to an e-Commerce platform in Thailand next year. JD.com became the largest shareholder of Vietnamese e-commerce service Tiki in 2019. The company also runs Joybuy.com for international clients.

JD has so far avoided massive fines or penalties in connection with new regulations imposed by Beijing in areas ranging from antitrust to Internet platforms to data protection. JD sees the regulations as positive, Xin said.

JD can be called a good student in the eyes of regulators and partners. Almost all of our services follow the strictest regulatory standards, he said. JD welcomes regulations because they help limit companies’ behavior, enable customers to have better services, and create a fairer competitive environment.

Related news: JD.com nominates new president as founder takes a step back

Xin is not the only new high-ranking executive on the JDs team. In September, JD.com announced Lei Xu as president of JD.com, succeeding founder Richard Qiangdong Liu. Xu was previously CEO of JD Retail. Liu will remain chairman and CEO of the company. Enlin Jin was named CEO of JD Health International Inc. as part of the repair.

JD.com reported $ 39.3 billion (253.8 billion yuan) in net revenue for the second quarter of 2021, 26.2% more than the same period in 2020, and net service revenue of $ 5.3 billion (34.1 billion yuan), almost 50% higher than a year ago.

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