How the stay-at-home economy has been good for Tencent and e-commerce
This article first published by HSBC’s ‘Week in China’ , looks at JD.com, the Nasdaq-listed shares of the Beijing-headquartered e-commerce giant have risen 11% year-to-date. That doesn’t sound terrific but it’s compelling performance when the S&P500 had tanked by 25% in the same time period. JD.com’s stellar performance has much to do with its self-operated supply chain and logistics network, which comprises 700 warehouses spanning 17 cities in China. With the opening of its largest facility in Dongguan, as well as two other sorting centres last quarter, it can handle an additional two million daily orders.