(Yicai Global) Sept. 4 -- A delivery unit of China's e-commerce giant JD.Com will begin to provide vehicle-hailing services.
Jiangsu Jingdong Information Technology updated its business scope on the national credit information system on Aug. 29, adding a business line of "internet-based cab-hailing service."
China's logistics market is worth some CNY12 trillion (USD1.8 billion), which is 10 times bigger than the cab-hailing market, public data show. The leader in the courier field is truck-hailing firm Man Bang Group, backed by investors such as Sequoia Capital and Tencent Holdings, and followed by Kuaigou Dache, Huolala and SF Express. Didi Chuxing ranks as the biggest ride-hailing operator.
JD.Com did not comment on the matter but market insiders said that the new business is likely to focus on offering freight services to clients due to the Beijing-based digital behemoth's powerful logistics system and vehicle resources.
Since Jingdong Information's establishment in 2010, its business has primarily involved national express delivery services.
Editor: Emmi Laine