Google invests in online retail in China

Google invests 550 million USD in China’s second largest online retail company, the Jingdong (JD.com) group to increase its presence on the fast-growing Asian markets and to tackle competitors, including Amazon – Világgazdaság Online wrote.

The California-based technology giant announced on Monday that it will establish a wider base for co-operation with the Chinese company and will buy 27 million newly issued class A common stocks for 550 million USD and will earn less than 1 percent of ownership in JD . (vg.hu)