In Beijing to work on trade deals worth billions, French President Emmanuel Macron says that JD.com (NASDAQ:JD) will be allowed to expand in France and make the country its centerpoint for European expansion.
That comes in return with JD giving French companies more access to China's market; JD will get to sell high-end French wine and cognac, and China plans to drop an embargo on French beef.
JD.com says it plans to sell €2B worth of French merchandise by 2019, focusing on fast-pass solutions for French brands/retailers and working to minimize delivery times.
Previously: JD.com reports stake in Vipshop; Vipshop +1.9% (Jan. 08 2018)
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