Covid Fallout Flattens JD.com’s Online Birthday Bash

SINGAPORE—Chinese on-line buying big JD.com midyear e-commerce extravaganza recorded the slowest gross sales progress in no less than 5 years, within the newest gauge of the hit to client urge for food from stringent restrictions underneath the nation’s zero-Covid coverage.

JD.com stated Monday that turnover on its platforms throughout this 12 months’s June 18 buying pageant, generally known as 618, grew by 10.3% to 379.3 billion yuan, equal to $56.5 billion, the slowest enlargement because the e-commerce big first disclosed numbers for the occasion in 2017.