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Asia AI E-commerce

Walmart Raises Stake in Chinese Grocery Logistics Firm to 10%

Walmart is investing an additional $320 million in a Chinese grocery-delivery service to combat tech giants such as Alibaba in China’s hypermarket space. The U.S. retailer is raising its stake in the logistics company, known as Dada-JD Daojia, to 10% after a prior investment of $50 million in 2016, Walmart said in a statement. The move comes as Alibaba and Tencent invest in hypermarkets such as Sun Art Retail and Carrefour in China to augment their online services with brick-and-mortar stores. In China, Walmart is doing the reverse by applying its knowledge of physical stores to online deliveries and mobile payments.

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