China's JD.com to spin off industrial, property units in Hong Kong listing

China's JD.com to spin off industrial, property units in Hong Kong listing

FILE PHOTO: The logo of JD.com is seen at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Florence Lo

E-commerce firm JD.com Inc said on Thursday it planned to spin off its property and industrial units and list them on the Hong Kong Stock Exchange, the latest revamp in the Chinese technology sector after a sweeping regulatory crackdown.

JD.com said it would continue to hold a stake of more than 50% in the units, JD Industrials and JD Property, upon completion of the proposed spin-off.

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