Mar 15, 2022 07:39 PM

BUSINESS

With Alibaba Looming, JD.com’s Courier Arm Moves to Take Over Peer

By Yuan Ruiyang and Manyun Zou

What’s new: The courier arm of Chinese e-commerce giant JD.com Inc. has moved to take over a smaller peer as the parent looks to buttresses itself against a push by rival Alibaba Group Holding Ltd. into retail.

JD Logistics Inc. announced it will invest 8.98 billion yuan ($1.4 billion) to boost its stake in Deppon Logistics Co. Ltd. (603056.SH) so it owns the heavy cargo specialist nearly outright, according to an exchange filing.

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