Caixin Global – Latest China News & Headlines

Home >


CX Live is Caixin Global's real-time news portal, featuring 24-hour breaking news, short-form analysis, and roundups from business and social media in China.

Vietnam Surpasses Hong Kong in Port Throughput
Exclusive: Chinese Buyers Deep in Talks With Embattled Japanese Panel-Maker
Star Online Insurer ZhongAn Shuffles Leadership
Toyota, BYD in Tie-Up to Develop Electric Vehicles for China
China Approves Older Novartis MS Drug
Alibaba Supermarkets Roll Out Drug-Dispensing Vending Machines
Beijing Seeks Bang for Its Buck in Hydrogen Vehicle Drive
BMW, Tencent Team Up for Autonomous Driving Project
Exclusive: Chinese Buyers Deep in Talks With Embattled Japanese Panel-Maker
Vietnam Surpasses Hong Kong in Port Throughput
Bug-Trapping Lamps May Help China Control Crop-Devouring Moth
Google Says China Search Engine Plan ‘Terminated’
Volvo Cars Profit Tumbles as Trade Spat Starts to Take Toll
Star Online Insurer ZhongAn Shuffles Leadership
Huatai Unit AssetMark Financial Opens Higher in New York Debut
Donghai Securities Chairman Steps Down Under Investigation
Moutai Posts Slower Growth Amid Corruption Crackdown
Didi Hints It Will Revive Carpooling Service Linked to Two Murders
Amid Tax Cuts, Authorities Boost Nontax Revenues
Google Bans Major Chinese App Developer From Play Store, Ad Platform
China Considers Packing In Decades-Old Zip Codes
TSMC Counts on New iPhones for Revival After Trade War Hit
Chinese Homebuyers Lead Sharp Drop in Foreign Demand in U.S. Shutters Australia Office Just a Year After Opening

By Yang Ge / May 09, 2019 01:17 PM / Business & Tech

Photo: IC Photo

Photo: IC Photo

It seems that things just weren’t happening down under for e-commerce giant

Just over a year after opening an office in Melbourne, China’s second largest online seller has quietly shuttered the outfit, the company confirmed to the Australian Financial Review.

That same office had opened with fanfare back in February last year, including backing from the local government.

The office wasn’t peddling Chinese goods to Australians, but rather helping local Australian merchants to sell their goods to Chinese consumers hungry for imports. A JD spokesperson tried to put a positive face on the withdrawal, saying the Australia office is being integrated into the company’s China-based operations and “Australia’s importance doesn’t change.”

The fact of the matter is that has come under growing pressure to show investors it can be profitable, following years of losses since its 2014 New York listing. The company has said its delivery unit is losing major money, and that part of the business could go bust in two years if things don’t turn around soon. 

It also doesn’t help that founder Richard Liu is being sued by a U.S. university student who is accusing him of rape, which JD denies.

Share this article
Open WeChat and scan the QR code
Copyright © 2019 Caixin Global Limited. All Rights Reserved.