Aug 3, 2020|
Technology Keeps JD Ranking High on Fortune China 500 List
by Vivian Yang
The latest Fortune China 500 List released on July 27th revealed that JD.com remains to be the biggest “internet service and retail” company in China, ranked 13th, up four places from last year.
The list ranks revenues of all publicly listed Chinese companies for the previous fiscal year. High-quality growth in the retail business and the rapid growth of the service business are believed to be the main contributors to JD’s strong position. In 2019, net income of JD.com reached RMB 576.9 billion, up 24.9% from last year, significantly higher than the 11% average growth rate of the 500 companies. Net income from JD’s service business increased by 44.1% year on year, indicating that technology and services have become the new growth engines for the company.
Technology remains at the core of JD’s growth. The company identifies itself as “a supply chain-based technology and service company”. Leveraging JD Retail, the biggest retail platform online or offline in China, and integrating advanced technologies such as big data, digital and AI solutions, the company is expanding its business into digital technology (known as JD Digits), logistics (JD Logistics), health (JD Health), insurance (Allianz JD), cloud and AI (JD Cloud & AI) and more. The common goal of these businesses is to reduce industry costs and increase efficiency for the whole society, so as to create better user experiences and greater social value.
JD Digits is an AI-driven tech company that covers AI technology, AI robot, smart city, digital marketing, and fintech. The company is serving 400 million individual users globally, more than 700 financial institutions, over 30 cities, and serval public service institutions. Meanwhile, JD Logistics is focusing on building the Global Smart Supply Chain (GSSC) together with partners around the world.
In May 2020, JD announced its new mission which is “powered by technology for a more productive and sustainable world”. During this year’s pandemic period, JD stepped up to support traditional industries, SMEs, and brand partners by shortening settlement cycles and offering a large number of advance payments, and at the same time empowering their digital transformation with technology to overcome the difficult time.
By December 31st,2019, JD had 220,000 employees, serving near 400 million global users together with 220,000 merchants, creating more than 15 million job opportunities for the upstream and downstream of the industry ecosystem.