Sunday, 2024 April 21 shifts attention to travel business with new subsidiary

Corporate registration information shows that set up a travel company on Monday.

The e-commerce giant today confirmed the existence of the subsidiary which it 100% owns, but declined to deliberate on the purpose and future plans.

The corporate information shows that the subsidiary’s business scope includes travel consultation, clothes sales, auto leasing, and construction materials.

When bought a landmark hotel in Beijing earlier this year, there was wide speculation that the company was to leverage on its huge user base to further tap the hotel sector.

However, it denied that, adding that the company plans to turn this hotel into office buildings.

Back in May 2015, became a major shareholder in Nasdaq-listed online travel agency Tuniu, according to the latter’s 2018 annual report. 

In return, the e-commerce giant gave Tuniu RMB 1.5 billion (USD223 million) in cash and RMB 660 million (USD 98 million) in business resources, including a 5-year exclusive right for Tuniu to operate the leisure travel channel for both JD’s website and mobile application.

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Editor: Nadine Freischlad

Jingli Song
Jingli Song
I believe Chinese innovation at various level needs to be known by the world.

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