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Chinese e-commerce giant JD.com pursues budget-minded consumers in slow economy [Yahoo! Finance]
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Last jd.com, inc. - american depositary shares earnings: 3/2 05:03 am
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the "sink" market, made up mostly of small towns where shoppers have limited spending power, amid fierce competition with rivals such as PDD Holdings. Borrowing a page from PDD's playbook, JD.com is taking full control over Jingxi's operation, logistics and after-sales services in what is known as a "whole custodian" model, hoping to better serve price-sensitive consumers, according to a report from Chinese media outlet 36kr. After the restructuring, the head of Jingxi would report directly to JD.com CEO Xu Ran, the report said. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. JD.com did not immediately reply to a request for comment on Tuesday. Major Chinese e-commerce platforms are engaged in an intense price war amid an economic slowdown and sluggish domestic consumer spending.
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