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China tech

Alibaba rival JD.com beats revenue forecasts on China stimulus

No. 2 e-commerce group shifts to rural users as urbanites tighten wallets

A JD.com delivery man makes the rounds in Beijing. The e-commerce group is putting more emphasis on consumers beyond China's biggest metropolises.   © Reuters

HONG KONG -- China's second-largest e-commerce group, JD.com, topped market expectations for quarterly revenue but fell short on net profit, as the company known for high-end products boosted efforts to sell to shoppers on tighter budgets.

The Nasdaq-listed company on Tuesday reported net revenue of 150.3 billion yuan ($21.3 billion) for the April-June quarter, exceeding the market consensus of 147.5 billion yuan based on data provider Refinitiv's polling.

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