JD to monetize logistics assets

E-commerce giant JD has announced it will establish a logistics assets management company to revive profits amid fierce ongoing competition with Alibaba Group Holding Ltd across retail, logistics and finance.

The separate unit will develop, monetize and operate JD's logistics assets, said Sidney Huang, chief financial officer of JD, in a conference call.

He said the company aims to monetize its logistics properties - including 2.5 million square meters of warehouse space - to compensate for part or all of the additional investments.