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JD eyes luxury sector expansion

JD.com Inc, China's second-largest e-commerce player, said it will invest $397 million in London-based online fashion retailer Farfetch UK Ltd to further penetrate the luxury sector, amid fierce competition with Alibaba Group Holding Ltd.

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Traditional brands go global: China's sweeping internationalization of its industrial enterprises, e-commerce businesses, and technologies has infused the global consumer landscape with Chinese elements.

A glimpse of China's mid-year online shopping spree: Chinese Internet users splurged on the mid-year online shopping spree on Sunday. June 18 ("6/18") shopping festival was launched by JD.com, Tmall's arch rival.

China suspends open market operations: China's central bank suspended open market operations on Friday, citing abundant liquidity in the financial system.

Geely to acquire 49.9 pct. stake in Malaysia's Proton: China's Zhejiang Geely Holding Group on Friday signed a definitive agreement to acquire a 49.9 percent stake in Malaysia's loss-making carmaker Proton.

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RMB Exchange Rates June 23, 2017

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Currency (Unit:100)	RMB

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