JD.com is often called the 'Amazon of China' because it combines first-party retail with its own logistics. Headquartered in Beijing's Yizhuang district, it is the country's biggest retailer by revenue and one of its largest private employers, with 776,682 staff at the end of 2025, many of them full-time couriers and warehouse workers. The group's listed subsidiaries include JD Logistics and JD Health, and Richard Liu retains voting control through high-vote Class B shares. The company is headquartered in Beijing, China.
JD.com earns money in four main ways. 1) Net product revenue (1P retail): JD buys electronics, home appliances, groceries and general merchandise from brands, stores them in its own warehouses and sells at a retail margin. This is the bulk of group revenue. 2) Marketplace and marketing services: third-party (3P) merchants pay commissions and buy advertising on JD's app. 3) Logistics services: JD Logistics sells warehousing, express, freight (including Deppon) and supply chain services to outside companies as well as to JD itself; its Q2 2026 revenue rose 24.3% year over year. 4) New businesses: JD Food Delivery, launched in 2025, plus international retail and other ventures, which are still loss-making (~$1.38 billion (RMB9.9 billion) operating loss in Q2 2026).