Chinese e-commerce giant to invest 20 billion yuan in NE China

Chinese e-commerce giant JD.com plans to invest more than 20 billion yuan (3.1 billion U.S. dollars) in the "rust belt" northeast China over the next three years.

A pedestrian walks past the headquarters of Chinese online retailer JD.com in Beijing, China, October 16, 2017.[File Photo: IC]

The move, which echoes the central government's campaign to revitalize the traditional industrial base, is aimed at upgrading industries, creating jobs and improving creativity, according to the company.

JD.com's businesses in the provinces of Liaoning, Jilin and Heilongjiang will cover a variety of fields, including e-commerce, data services, logistics, finance, medicine, and tourism.

The company said it would continue the construction of an e-commerce operation and settlement center in Jilin, which is expected to create 9,000 jobs.

Liu Qiangdong, JD.com chairman, said he has full confidence in the region's revitalization.

The three provinces have been struggling with growth following the decline of their traditional heavy industries. The central government started rejuvenating the region in 2013, and further efforts were launched in 2016.

The government's plan for the latest round of development is directed towards e-commerce, online finance, logistics and modern agriculture.