JD.com Makes $420 Million Bet on China's Pers...

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AsianFin -- China’s e-commerce giant JD.com has taken a major strategic step into the personal non-performing loan (NPL) market, acquiring a controlling stake in CITIC Qingdao Asset Management Co., Ltd. for 3.014 billion yuan (approximately $420 million).

The deal, announced via the National Property Rights Exchange Center on June 25, marks the first time the nation’s first city-