By Tracy Qu
China's largest technology companies are moving to show support for Beijing as trade tensions with the U.S. escalate.
JD.com said it plans to spend 200 billion yuan, equivalent to $27.3 billion, over the next year to help export-oriented manufacturers sell their products in the domestic market, according to a post on its official WeChat account Friday.
Under the initiative, the Beijing-based e-commerce giant said it will directly purchase at least 200 billion yuan worth of goods originally destined for export, aiming to ease exporters' tariff pain.
Alibaba's grocery chain Freshippo, also known as Hema, said in a separate WeChat post that it is opening a 24-hour fast-track onboarding channel for Chinese exporters. The company also plans to launch a dedicated section for export-to-domestic products on its platform.
The moves mark the first wave of responses from China's major tech firms to Beijing's call to boost domestic consumption, amid escalating trade tensions between the U.S. and China.
On Friday, China said it would raise tariffs on some U.S. goods to 125%, after the White House clarified plans to impose tariffs of up to 145% on certain Chinese goods.
Write to Tracy Qu at tracy.qu@wsj.com
(END) Dow Jones Newswires
April 11, 2025 06:23 ET (10:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。