ChinaTravelNews - Major Chinese e-commerce company JD.com has signed an agreement with state-controlled Beijing Tourism Group to expand cooperation between the two companies in strategic investment, business operation, and others.
As part of the agreement, JD.com and its subsidiary JD Digital Technology have completed a strategic investment in Beijing Tourism Group's lifestyle service digital unit for an undisclosed sum. The nation-owned tourism group aims at transforming from a traditional offline consumer service company to a digital mainstay.
The partnerships between JD.com and Beijing Tourism Group started in 2019 as the two companies explore cooperation in intelligent service, smart city, digitalization, customer base integration and more.
This is not the first that JD.com has invested in the travel space.
In 2015, the company splashed out USD 350 million to back Tuniu.com, a Chinese leisure online travel site, and became Tuniu's largest stakeholder at the time.
More recently in April this year, JD.com agreed to invest RMB 450 million (USD 64 million) in tour operator group Caissa, and in June, the e-commerce firm sold all its Tuniu stake to Caissa for just USD 65 million.