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China e-commerce giant JD.com's 10 billion-yuan subsidy scheme fails to impress; shares hit an all-time low, erasing US$36 billion of market value

The effectiveness of JD.com’s 10 billion-yuan (US$1.37 billion) subsidy programme, which was aimed to fend off industry rivals, has been questioned by investors as margins shrink and revenue growth underperforms. ....

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