Walmart and JD.com invest $500m in Chinese logistics service

Their governments may be at loggerheads, but it hasn’t stopped China’s JD.com and the US’s Walmart investing half-a-billion dollars in a new joint-venture, according to The South China Morning Post. The money is earmarked for logistics services company Dada-JD Daojia, comprising two businesses, in which both parties have already invested heavily. The first is a network of 5m delivery people, while the second supplies one-hour delivery services for groceries and …

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Source: The Loadstar

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