China’s e-commerce giant JD.com Inc has invested 376 million yuan ($34.6 million) into listed logistics firm Jiangsu Xinning Modern Logistics, according to a stock filing by the latter on Monday.
The investment will see JD.com taking up a 10 per cent stake in Xinning. In the filing, Xinning said it also formed a strategic partnership with JD.com’s logistic arm, JD Logistics, to develop a big data system that will boost efficiency and cut costs. The solution aims to reach 200,000 vehicles by 2020.
