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Caixin

China's JD.com tries to take finance out of its fintech arm

Unit has seen management exodus and staff cuts as it seeks path back to IPO

The abrupt suspension of the Ant Group initial public offering in November last year has reverberated across China's fintech sector and caused dozens of casualties, one of which has been the fintech arm of JD.com, a leading Chinese e-commerce company. Known back then as Jingdong Digits Technology Holding (JD Digits), the company was later forced to abandon its IPO plan in the middle of the process.

While Nasdaq-listed JD.com has long been widely seen as one of China's top online retailers, the growth path of its fintech arm has been anything but consistent. Even its name has changed several times. It started as JD Finance as early as 2013, before changing monikers to JD Digits in November, 2018.

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