China e-retailer JD.com ending sales in Thailand, Indonesia
BEIJING (AP) — Chinese online retailer JD.com Inc. is closing its consumer e-commerce services in Indonesia and Thailand amid intense competition in Southeast Asia. Announcements on the two websites said JD.com will stop taking orders on Feb. 15 in both countries and end service the following month. The company said it will develop its cross-border supply chain business that serves Southeast Asia and other global markets. The company operates or manages warehouses or industrial parks in Vietnam, Malaysia and Indonesia. E-commerce vendors in Southeast Asia have been squeezed by intense competition, including from JD.com’s Chinese rival, Alibaba Group. The company says its foreign operations and other “new business” account for just over 2% of total sales.