Jingdong Launched The Sea Again, Jingdong Finance For The First Time To Sea.

A few days ago, Jingdong group and Jingdong Finance It announced that it will set up two joint ventures with Thailand's largest retailer, Central Group Co., Ltd., "Shang Tai Group" and Provident Capital in Thailand, providing e-commerce services and financial technology services respectively, with a total investment of US $500 million.

According to the agreement, half of the investment will come from Shang Tai Group, and the rest will come from Jingdong group, Jingdong finance and Jingdong group, Provident Capital, the strategic partner of Indonesia's electricity supplier business.

Shang Tai Group is the largest in Thailand. Retailer There are 9 business groups in many industries, including department stores, consumer goods, building materials, home appliances, electrical appliances, shopping malls and real estate, stationery, books, online, hotels and resorts, fashion products management and marketing, restaurants and Vietnamese businesses. In addition, the company has several famous Luxury Collection department stores throughout Thailand and Europe. Shang Tai Group's global business has expanded to 3075 regions in Thailand and overseas, with more than 80 thousand employees.

Provident Capital is a private investment firm focused on Southeast Asian investment. It covers all sectors of the Internet industry, communications tower, gold and copper mining.

According to Jingdong, Jingdong and Jingdong finance mainly provide technical support, while Shang Tai relies on its retail and channel advantages.

Jingdong will provide a wide range of professional skills support for the electricity supplier joint venture, covering technology, e-commerce and logistics. The financial technology services joint venture will benefit from the expertise of Jingdong in the field of financial technology, including its experience and technology in building convenient financial technology services in the developing market, such as artificial intelligence, cloud computing and other industry leading technologies.

Shang Tai Group will play its retail resources advantages for two businesses, including the physical store network that can provide full channel services and payment scenarios support, rich brand relations and business resources, and insight into the retail behavior brought about by its member plan "The 1 Card". In addition, in order to enrich the types of e-commerce products and speed up its full channel growth, Shang Tai Group will set up a number of flagship stores on the electronic business platform, introducing its department stores and major retail chains, as well as its own or operating multiple selected brands.

"The huge population and developed infrastructure in Thailand, including the powerful national logistics network, bring great potential to electricity providers and financial technology services," said Jingdong group CEO Liu Qiangdong. "With the strongest retail group in Thailand, its huge shopping centers and department stores provide us with a huge competitive advantage in further developing the Southeast Asian market."

Some investors believe that China's Internet companies go to Southeast Asia, which is a high-dimensional and low dimensional input mode, mainly based on technology and mode output. Jingdong, Jingdong finance and Shang Tai Group's cooperation is similar to that of Ali and ant gold suit with Southeast Asian enterprises. But we may have to look at two companies here.

First is the cooperation between Jingdong and Shang Tai. This is not the first time Jingdong has gone to sea. The cooperation between Shang Tai Group and Jingdong has been heard last month, and now official news has finally come out.

The cooperation with Central Group is the third phase of Jingdong's investment in Southeast Asia this year. It has been found that the action of Jingdong going to sea started three years ago. The first stop was not Southeast Asia, but Russia. For the entire Jingdong group in Southeast Asia's sea going process, the 36 krypton layer has been combed, the details can be marked "Jingdong go to sea record: Russia did not erupt in three years, Southeast Asia layout to bite gold".

Previously, Ali invested 1 billion 100 million to invest in Indonesia's largest e-commerce platform Tokopedia, which is Indonesia's largest e-commerce platform, and the most visited Indonesian website. It has been reported that Jingdong intends to invest heavily in Tokopedia. At that time, the market speculated that if Ali entered the game, it might affect Jingdong's investment in Tokopedia. Today, Tokopedia's model is similar to Ali's. Jingdong's genes are retail like Shang Tai. Such a collocation is not surprising.

In addition, for Jingdong finance, this is its first time to go to sea.

In June 2017, Jingdong finance completed its spin off from Jingdong group and became an independent entity. According to Jingdong financial data, as of June 30th this year, Jingdong finance has accumulated more than 50 enterprises and 150 million customers, connecting hundreds of financial institutions. Up to now, Jingdong's financial line has covered ten major sectors, including supply chain finance, consumer finance, public funding, wealth management, payment, insurance, securities, rural finance, financial technology, and overseas undertakings. In cooperation with Thailand's Shang Tai Group, payment will be the first core business.

For Jingdong finance, Shang Tai Group is one of the largest retailers in Southeast Asia. It has rich offline consumption scenarios, and has always hoped to introduce more advanced financial technology solutions to Jingdong financial payment.

Since 2017, the professional team of Jingdong financial organization has conducted preliminary research in Thailand and other Southeast Asian markets. In July this year, Jingdong finance formally set up overseas ministry to promote the landing of internationalization strategy. In the course of the investigation, Jingdong financial found that most of the offline scenes in Thailand were mainly cash transactions, but consumer demand for electronic payment is growing rapidly, while the existing electronic payment products do not fully satisfy consumers' demand for "safety, reliability and convenience". Therefore, they believe that Thailand has great potential for electronic payment.

If you remember, before the Jingdong finance, Jingdong has invested in Ascend Money, a mobile payment company in Thailand. At that time, they also said they wanted to serve more than the general Internet users.

Compared with ants, the pace of Jingdong's financial going to sea seems slower. However, Xu Ling, general manager of Jingdong finance and overseas affairs department, issued a bold statement, saying that internationalization will be an important strategic direction of Jingdong finance from now on. Jingdong finance has no upper limit for continuous investment in international strategy.

Specific implementation path: Jingdong finance will "go out" by establishing overseas branches and joint ventures, actively incubating overseas innovative businesses, and building international financial and technological capabilities to bring better services to overseas enterprises and users. In the early stage of internationalization, Jingdong finance will radiate more Southeast Asian countries with Thailand as its core.

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