China’s JD.com is teaming up with Sequoia China to raise up to RMB40 billion (US$5.81 billion) for a state-owned fund that invests in China’s long-term and strategic tech areas.
A few weeks ago, I visited a JD distribution center in west Beijing. It was a small facility consisting of a storefront, a bunch of delivery karts lined up outside and space for trucks to pull up.