JD comes out with $2b sourcing plan

JD.com Inc, China's second biggest e-commerce player, announced on Wednesday that it intends to purchase more than $2 billion of goods from the United States over the next three years, including the import of more than $1.2 billion of beef from Montana Stock Growers Association (MSGA) and pork from Smithfield Foods.

The agreement was signed as US President Donald Trump started his first state visit to China.

JD said in a statement that it will import Montana-sourced beef from Cross Four Ranch and MSGA members for direct sale to the 258 million Chinese consumers on its e-commerce platform.