SHANGHAI :
JD.Com to Invest USD849 Million in Hubei as China's Internet Giants Vow Support
Xu Wei
DATE:  Apr 08 2020
/ SOURCE:  Yicai
JD.Com to Invest USD849 Million in Hubei as China's Internet Giants Vow Support JD.Com to Invest USD849 Million in Hubei as China's Internet Giants Vow Support

(Yicai Global) April 8 -- China’s internet giants have announced support for Hubei province and its capital Wuhan after the city was unlocked after a 76-day lockdown due to the coronavirus epidemic. JD.Com said it will invest more than CNY6 billion (USD849 million) in the province over the next three years.

Beijing-based JD said today that it will build new infrastructure, support industry, help farmers and alleviate poverty in Hubei while launching a series of initiatives to help the province’s economic recovery and development of local small and medium-sized enterprises following the Covid-19 outbreak.

The e-commerce giant will spare no efforts in helping Hubei build new-generation infrastructure, focusing on intelligent supply chain and smart logistics, enhance backing for local brands and SMEs and continue to support the development of poverty alleviation brands.

Meanwhile, Alibaba Group Holding is willing to bring its advantages in digital technology and business into full play and use the power of all its platforms to help Wuhan in suppressing the contagion, and buoy its economic recovery and enterprise services, Chairman Daniel Zhang said today. It will also promote the overall recovery of consumption, manufacturing and domestic and foreign trade in the city.

Bytedance Technology’s short video app Douyin, know as TikTok overseas, will host 13 live-streaming events to market Hubei’s agricultural produce, food and consumer goods, promoting the province’s high-quality products to consumers nationwide, Douyin said today. The first live-streaming activity took place in Wuhan today.

Tencent Holdings said yesterday that it will continue to increase its investment in Hubei, and cooperate with Wuhan on digital government, smart education, smart mobility, artificial intelligence and security to help in the construction and development of the city’s digital industry. At the same time, Tencent’s workforce in Hubei will quadruple in the next three years.

Editor: Peter Thomas

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Keywords:   JD.Com,Hubei,Investment,Covid-19