JD to focus on logistics, R&D

As growth slows amid competition, company seeks new investment

The country's second-largest e-commerce player JD will continue to increase its investment in logistics, offline retail and research and development, amid stiff competition with its archrival Alibaba Group Holding Ltd.

JD's net income reached 100.1 billion yuan ($16 billion) in the first quarter of 2018, an increase of 33.1 percent year-on-year, the slowest growth in the company's history, according to its quarterly earnings released on Tuesday night.