BUSINESS & TECH Spins Off Internet Finance Unit

By Wang Qionghui, Denise Jia and Han Wei

(Beijing) —, China's second-biggest e-commerce company, agreed to sell its finance arm for $2.1 billion as part of a plan to reorganize the fast-growing business and challenge industry leader Ant Financial. reached an agreement to sell its 68.6% stake in JD Finance to a group of domestic investors including CEO Richard Liu Qiangdong for about 14.3 billion yuan, the company said Thursday. JD Finance offers small loans, wealth management and other financial services online. The transaction is expected to close in mid-2017.

You've accessed an article available only to subscribers
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.