Beijing - China’s e-commerce company Jd.com, Alibaba’s major competitor, starts its new shipping business. The company has signed an agreement with Orient Overseas International Limited, the Hong Kong’s based holding company which involves in international transportation and logistics, and with the shipping group COSCO.
Under the agreement, the three parts will form a joint venture for the acquisition of Shenzhen-based Eshipping Global Supply Chain Management, an online logistics platform controlled by Cosco.
The joint venture will be set up in Shanghai with an initial registered capital of 255 million yuan, around 33 millon euros.
Established in July 2014, Eshipping offers a platform to integrate international supply chain resources, including logistics, warehousing, courier, logistics financing, trading and other market resources, to provide small and medium-sized enterprises and cross-border retailers one-stop logistics services covering landside transportation, ocean freight forwarding, air freight forwarding, overseas warehouses, supply chain finance etc.