Chinese e-commerce giant
JD.com is launching a 10 billion yuan (US$1.5 billion) subsidy campaign in early March to compete against rival PDD Holdings, whose budget shopping app Pinduoduo has been on a meteoric rise, according to two people with knowledge of the matter, as China’s e-commerce market slows down.
The subsidies will cover both JD.com’s self-operated online shops, and storefronts set up by third parties on its platform. The company is still in the process of hammering out the details and readying its system before the campaign begins next month, one of the sources said.