JD plans listing of logistics business

JD Logistics, the logistics unit of China's second-largest e-commerce player JD, is raising funds for eventually going public as an independent company, said Liu Qiangdong, founder and CEO of JD.

The company hasn't decided on the location to list its logistics arm, and the initial public offering is still way off, Liu said during a news briefing in Davos, Switzerland at the annual World Economic Forum meeting.

The move comes as China's major e-commerce players are looking to bulk up their logistics businesses to support their global expansion and boost revenues by offering services to third-party entities.