JD buys Beijing Jade Palace Hotel for 2.7 billion yuan

Chinese e-commerce giant JD has acquired Beijing Jade Palace Hotel for 2.7 billion yuan.

File photo of Beijing Jade Palace Hotel. [Photo: VCG]

The company says Beijing's Haidian district is full of talent and innovation resources, and the acquisition of the hotel is based on JD's long-term layout and development in this district.

It also says the five-star property will be transformed into a new office building and innovation center.