July 22, 2018 / 5:51 PM / 4 months ago

China's JD.com plans move into Europe: CEO tells German newspaper

BERLIN (Reuters) - Chinese e-commerce company JD.com plans to expand in Europe and aims to have finalised its strategy for entering the market by the end of the year, its chief executive told a German newspaper.

China’s second largest e-commerce business also wants to open an office in Germany by the end of 2018, the Handelsblatt daily cited Richard Liu as saying.

“For me it’s no longer just about selling products from Germany in China. I would also like to sell products in Europe,” Liu told the paper. “We have just got to clarify the details.”

JD.com is investing heavily in logistics and offline retail to expand beyond its base in China and Southeast Asia and establish a meaningful presence in U.S. and European markets.

Handelsblatt said Liu would also consider takeovers to help its foray into the European market. “If we see a good opportunity then we will seize it,” he said.

Writing by Caroline Copley; Editing by Adrian Croft

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