(Yicai Global) Jan. 30 -- JD.Com Inc. plans to enter the US market this year. China's e-commerce giant has started its internationalization strategy and would launch an e-business platform in the world's largest economy, said Richard Liu, CEO of the company. The move means it will face competition from Amazon.Com Inc. and Alibaba Group Holding Ltd. in the US.
JD.Com Inc.'s internalization strategy comprises two parts: bringing foreign brands to China and introducing Chinese brands abroad, reported online media Interface News today. Under its expansion strategy, JD.Com Inc. [NASDAQ:JD] plans to enter the South and Southeast Asian markets such as Vietnam, India, The Philippines and Malaysia first by the end of this year, to be followed by European and the US markets.
"The principle of JD.com is that once we have decided to do something, there will be no restriction in carrying it out. JD.com plans to get half of its revenue from overseas markets within 10 years and we will make continuous investment until we realize this goal," Richard Liu said at Davos Forum.
Liu emphasized JD.com would continue to use its logistic advantage, saying it will set up a warehousing operation center in the US for delivery on the same day. JD.Com is planning to raise funds for its international expansion. It is expected to sell part of its logistics arm to shareholder Tencent Holdings Ltd. in a funding round, Bloomberg reported earlier.