(Yicai Global) Jan. 30 -- Shanghai Waigaoqiao Free Trade Zone Group Co. will provide comprehensive cross-border e-commerce supporting services to China's e-commerce titan JD.Com Inc., including provision of domestic bonded storage in Shanghai's free trade zone.
The company will sign a Memorandum of Understanding with Beijing Jingdong Century Trading Co., a subsidiary of JD.Com, for strategic cooperation, said the free trade zone development and construction company in a statement yesterday. Both parties will cooperate in such fields as logistics, storage, commercial trade and functional platforms.
Waigaoqiao [SHA:600648] will offer integrated solutions for the cloud warehouses of JD.Com as its designated partner. They will also work together to build online-offline integrated e-commerce project. The two companies will sign a formal agreement after negotiating details of the cooperation, the statement added.
With the rising demand of Chinese people for foreign goods, major players in e-commerce actively participate in the cross-border e-commerce businesses and set up warehouses in major free trade zones in China to deliver imported goods to customers as soon as possible. JD.Com sets foot in Shanghai Free Trade Zone, eyeing the consumers in East China, a wealthier area.