(Yicai Global) Feb. 6 -- China's e-commerce giant JD.com recently submitted a SEC filing, a financial statement made to the US Securities and Exchange Commission, showing that the American multinational retailing corporation Wal-Mart Stores Inc. recently increased its holding in the Chinese company, and overtook Hillhouse Capital as the third largest shareholder.
According to the document, Wal-Mart held a 12.1 percent A-share common stake in JD as of Dec. 31 2016.
The U.S. retail giant stepped up e-commerce operations on a global scale during the last 12 months. Investing in mature e-commerce companies has eased its expansion into the online shopping world. It acquired Jet.com, a rising firm in the US e-commerce market, for USD3.3 billion. In the Chinese market, it merged the newly acquired "Yihaodian" brand with JD.com in June 2016, and raised its holding in JD to 10.8 percent last October, the first step of its latest acquisition of further stake in the same company.
As a result of such successive e-commerce deals, the total online sales revenue at Wal-Mart rose 20.6 percent year-on-year in the last quarter of 2016. Last October, Wal-Mart said it would open new offline stores at a slower pace, and divert more resources toward e-commerce operations.