Wal-Mart strength­en­ing strate­gic co­op­er­a­tion with JD

China Daily (USA) - - BUSINESS - By ZHU WENQIAN zhuwen­qian@chi­nadaily.com.cn

Wal-Mart Stores Inc said on Wed­nes­day in Bei­jing that it plans to take fur­ther steps to deepen its strate­gic co­op­er­a­tion with JD.com Inc, one of China’s lead­ing e-com­merce mar­ket­places, as the world’s largest re­tailer plans to fur­ther tap the re­tail mar­ket in China.

OnOct 6, Wal-Mart raised its stake in JD from 5.9 per­cent to 10.8 per­cent, and it is re­ported that Wal-Mart has be­come an observer mem­ber of the board of JD.

InJune, Wal-Mart part­nered with JD and re­ceived 5 per­cent stake in JD, and the two planned to part­ner in sev­eral strate­gic ar­eas.

“The co­op­er­a­tion gave us wider cus­tomer ac­cess and pro­vides our stores po­ten­tial traf­ficfromJD’shuge­cus­tomer base. We would like to deepen the co­op­er­a­tion, and de­ploy more ef­forts on e-com­merce and mo­bile shop­ping, as they be­come part of the trends of con­sumers’ shop­ping be­hav­iors,” said Doug McMil­lon, CEO ofWal-Mart.

He said Wal-Mart is up­beat about the growth po­ten­tial of the China mar­ket, and ear­lier es­ti­mated that 25 per­cent of its global re­tail growth will be in China in the next five years.

Mean­while, the re­tail gi­ant launched its Wal-Mart Food Safety Col­lab­o­ra­tion Cen­ter in Bei­jing on Wed­nes­day. Wal-Mart and Wal-Mart Foun­da­tion plan to in­vest $25 mil­lion in fund­ing over the next five years to sup­port re­search projects in ap­plied science, ed­u­ca­tion and com­mu­ni­ca­tions, which will help to en­hance China’s food safety.

“By bring­ing to­gether the best food safety thinkers from across the food ecosys­tem, from farm­ers to sup­pli­ers, re­tail­ers and pol­icy reg­u­la­tors, we will ac­cel­er­ate food safety aware­ness and help make Chi­nese fam­i­lies safer and health­ier,” McMil­lon said.

Doug McMil­lon, chief ex­ec­u­tive of­fi­cer of Wal­mart

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