Dec 28, 2022|
JD.com’s CEO Lei Xu Named Among Most Influential Chinese Entrepreneurs of 2022
by Vivian Yang
Lei Xu, CEO of JD.com, was named one of the 25 most influential Chinese entrepreneurs in 2022 by CHINA ENTREPRENEUR magazine, a leading Chinese business publication focusing on reporting and building the country’s community of entrepreneurs.
“Since becoming the CEO of JD.com this April, Xu led the company to focus on its strengths, and improve operating quality and efficiency, while strategically investing in long-term innovation,” said the publication in the announcement on December 12.
As a real “doer” – the theme of the publication’s 2022 nomination – Xu is widely recognized for his down-to-earth spirit in helping the company navigate a challenging time. He has been driving the company to be increasingly “heavy” by exploring technology and service on supply chain, and positioning JD.com as a new type of real economy enterprise, noted the magazine.
“We all wish our enterprise to be built to last, to become a century-old brand,” said Xu in his interview with CHINA ENTREPRENEUR. “This is undoubtedly a marathon, and the only way to complete it through (economic) cycles and against complex uncertainties, is to stay on target and keep running.”
On many occasions in the past year, Xu has expressed his views that China’s economy has cycles that do not cancel its development momentum. JD’s core business focus is on the retail sector and has strong capability to ride out the cycles. Over the years JD.com has been building a solid infrastructure across three networks, including that of products, warehouses, and cloud technology. Coupled with a responsible supply chain, this safeguards the company’s smooth development despite external headwinds.
“Throughout JD’s 19 years of history, we have never dwelt long over short-term and local gains or losses. Our core logic of business is clear, i.e. our business model and strategic positioning have always revolved around customers and business partners,” said Xu in an earnings call in 2021.
The magazine also noticed Xu’s optimism during JD’s latest earnings call this November, when he commented that “the sign of economic recovery is in sight and JD is ready for it.”
Xu was promoted from President to CEO in April 2022. Richard Liu, the founder and Chairman of JD.com, is dedicated to the company’s long-term strategies, cultivating young talents and initiatives on rural revitalization.
Previously, Xu headed JD Retail for about four years as CEO, a role in which he demonstrated excellent management skills and delivered high-quality business growth under the philosophy of “trust-based and customer-centered value creation.” During this period from 2018 to 2021, JD’s annual active users grew from 300 to 570 million, and full-year net revenue nearly doubled from RMB 461 billion to 951.6 billion yuan.
A decade ago, Xu took the lead in transforming JD’s wireless business into JD App, bringing the company into the mobile era. Xu was also the key person in conceiving the idea of JD618 Grand Promotion, and in bringing the shopping festival to life.
Beyond his professional life, Xu is not shy to show his personality as a genuine Beijinger who speaks from his heart. He is also a rock-and-roll enthusiast and a lover of fashion brands and soccer, all of which make him a magnet for many fans, added the report.