Chinese online retailer JD.com may invest in warehouses in Russian Far East

MOSCOW, July 29. /TASS/. Major Chinese online retailer JD.com is interested in the construction of warehouses and logistics parks in Russia, including the Far Eastern federal region, president of company’s international business Victor Xu said Wednesday. "We are interested in the development of logistics parks in the Far East, as well as in the central part of Russia," he said. In addition, JD.com does not rule out opening the representative office in Russia, as did another Chinese online retailer AliExpress earlier (Alibaba Group subsidiary). "This of course, is a natural process," Xu said. In June JD.com launched the Russian version of the site. JD.com (Jingdong Mall) was established in 1998 and is currently the second largest [after Alibaba] Internet retailer in China. The company held an IPO in May 2014. The initial offering on the NASDAQ stock exchange amounted to $1.78 bln. According to Merry Meeker, JD.com occupies 11th place in terms of public Internet companies’ capitalization globally. The website JD.com was opened in 2004; its English version was launched in 2012. From 2007 through 2013 the website worked at the 360buy.com domain. The company operates 3 mln square meters of warehouse space in China and owns around 3,000 delivery stations. Currently, the retailer's turnover is about $60 bln a year. Read more