Wal-Mart partners with China's No. 2 e-commerce site

NEW YORK — Wal-Mart is partnering with China's No. 2 e-commerce site, the U.S. retailer said.

The company said Monday that it was giving JD.com ownership of its Yihaodian marketplace, including the brand, website and app.

Wal-Mart's Sam's Club China will open a flagship store on JD.com, and both companies will work to leverage their supply chains and broaden the range of imported goods.

Wal-Mart Stores Inc. of Bentonville will take a 5 percent stake in JD.com, or nearly 145 million newly-issued Class A shares in the Beijing company.

In February, Wal-Mart said global e-commerce rose 8 percent in the fourth-quarter, well below the 20 percent pace of growth just a few years ago.

Shares in JD.com surged 8 percent before trading was halted Monday.

Read Tuesday's Arkansas Democrat-Gazette for full details.

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