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Wal-Mart Sells China E-Commerce Site To JD.com

June 20, 2016: 12:00 AM EST
Wal-Mart Stores Inc. said it has agreed to sell its Yihaodian website in China to JD.com Inc., the country’s second-largest online retailer. As part of the deal, which marks a strategic shift in the US-based retailer’s approach to e-commerce business in China, Wal-Mart will receive a 5-percent stake in JD.com. After opening its first store in China in 1996, Wal-Mart has found it hard to expand in the country where it operates about 430 locations. In 2012, Wal-Mart first invested in Yihaodian and gained full control of the website in 2015.
Rick Carew, Alyssa Abkowitz and Sarah Nassauer, "Wal-Mart to Sell Chinese E-Commerce Business to JD.com", Wall Street Journal, June 20, 2016, © Dow Jones & Company, Inc.
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