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Chinese retailer JD.com plans to open five discount superstores in two Chinese cities, marking its latest move into new segments as competition intensifies in its core e-commerce market.
Confirming a report in Beijing Business Today, a government-backed newspaper, the company told Reuters on Tuesday that the supermarkets will be in Zhuozhou city in Hebei province and Suqian, Jiangsu province.
The first outlet in Zhuozhou will span 5,000 square metres and will carry everything from detergent to chocolate, with prices intended to be below prevailing…
