Wal-Mart increases stake in Chinese e-commerce giant

Wal-Mart Stores keeps upping its investment in JD.com.
 
The discounter has increased its stake in the Chinese online company to 12.1%, (worth about $4.87 billion), from the 10.8% stake it had in October, and the 5.9% stake it had in June of last year, according to a report by Business Insider.
 
Walmart seems confident of JD.com’s ability to remain one of the top players in China’s e-commerce market, where sales are projected to hit nearly $6.4 trillion a year by 2025, the report said.
 
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