Beijing-based online retailer JD.com Inc on Friday unveiled a platform that will specialize in selling Tibetan specialties, becoming the first e-commerce company in the nation to establish a footprint in Southwest China's Tibet Autonomous Region.
The launch of the "Tibet Mall" is part of a strategic cooperation agreement signed between the company and the Lhasa city government on Friday.
The pact aims to upgrade the local economy with impetus from an expected e-commerce boom and a more extensive network that will sharpen the edge of the online retailer, said a joint statement released on Friday.
Compared with other parts of the country, the Tibetan government has offered greater policy support for the development of the e-commerce sector in the region, Ma Jianrong, vice president of the NASDAQ-listed company, told the Global Times on Friday, without elaborating.
Apart from the retail platform, which will build an online channel for Tibetan-produced items ranging from local medicines to handicrafts to be sold nationwide, JD also plans to enhance its logistics support in Tibet, according to Ma.
The company may also offer rural financial services across the region, Ma said, without revealing any specifics.
Alibaba Group Holding, the company's closest rival, has yet to disclose any similar moves. However, its recent purchase of a stake in Suning Commerce Group, the country's largest electronics chain, is seen as having intensified competition in China's online retail sector.
Alibaba announced on August 10 that it would become Suning's second-largest shareholder with an investment of $4.6 billion.
Suning, which also has an online presence, will in turn invest as much as $2.3 billion to purchase Alibaba's new shares.
