JD.com plans US$1.5 billion offensive against Pinduoduo in budget segment as e-commerce competition heats up in China

• Chinese e-commerce giant JD.com is hammering out details of a multibillion-yuan subsidy campaign to be launched next month, sources said
• The move marks JD’s first major business initiative by founder Richard Liu since taking back the reins of his empire after settling a rape case in the US