People Close to JD.com Say Rumors about JD Finance Facing Regulatory Problems Are Seriously Untrue

Tiger Newspress

21 Oct 2024

People close to JD.com say rumors about JD Finance facing regulatory problems are seriously untrue. JD.com shares trimmed their losses in premarket trading.

"Regarding rumors such as 'a regulatory task force entering JD Finance and the company borrowing funds from some banks,' a person close to JD stated that the information is seriously false. 'These claims are completely unfounded rumors, and JD Finance's operations are running smoothly,' the source said.

As for matters related to certain banks, they are part of the 'standard procedure for quick redemption of money market funds.' JD has already filed reports and complaints about the related rumors.

Earlier, on October 18, JD Finance had stated that there is no 'run on deposits' as claimed online, and that these statements are completely baseless. The company reserves the right to pursue legal action."

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