JD.com agrees to sell €2bn worth of French products over two-year period
French retailers have received a boost with the news that JD.com will sell €2bn worth of products over the next two years.
The Chinese e-commerce giant, the biggest of its kind in the Asian country, announced its intentions during the current state visit from French President Emmanuel Macron.
With a customer base of over 250mn, a number of leading French companies are now expected to agree deals with JD.com to take advantage of its vast reach.
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JD.com will also purchase €100mn worth of French products and has signed a Memorandum of Understanding (MoU) with industrial giant Fives Group to purchase €100mn worth of its latest technologies.
Macron met with the company's chairman and chief executive Richard Liu this week as he looks to strengthen business ties with one of the world's largest economies.
The president is eager to forge a stronger relationship between China and the European Union ahead of the United Kingdom's exit from the trading bloc in the spring of 2019.