BEIJING, April 11 (Reuters) - China's e-commerce giant
JD.com ( JD ) said on Friday it will launch a 200 billion
yuan ($27.35 billion) fund to help the country's exporters sell
their products domestically over the next year, as a U.S.-China
trade war intensifies.
Beijing increased its tariffs on U.S. imports on Friday to
125%, hitting back against U.S. President Donald Trump's
decision to hike duties on Chinese goods to 145%.
JD.com ( JD ) said in a statement that it would send its employees
to Chinese companies involved in foreign trade, directly
purchase their "high-quality products" and set up a special area
on its e-commerce platform to sell these products and direct
traffic and marketing support to this area.
Separately on Friday, supermarket chain Freshippo, owned by
JD.com ( JD ) rival Alibaba ( BABA ) and known as Hema in Chinese,
said it had opened a fast-track path for export companies to
explore the domestic market.
The support programmes for Chinese exporters could help them
re-coup some of their losses stemming from reduced sales
overseas by quickly starting or increasing domestic sales,
although they will face intense competition in a slowing
economy.
Like JD.com ( JD ), Freshippo will set up a special zone on its
platform where only products from these companies will be sold.
It said it will also make it easier for exporters to get on its
platform by simplifying registration procedures and would allow
these exporters to make use of the company's warehouse network.
($1 = 7.3045 Chinese yuan renminbi)