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Actionable news in JD: JD.COM INC, to Open Luxury Online Retail Site, Rivaling Alibaba

Chinese e-commerce company reported second-quarter results Monday. An employee works at a logistic center in Langfang, Hebei province.

Inc. JD -3.59% plans to open a luxury platform on its online retail site, ratcheting up its competition with larger rival Alibaba Group Holding BABA 1.92% for China’s high-end shoppers.

Chinese consumers account for 30% of global luxury spending, and they are increasingly doing their high-ticket shopping at home as the Chinese government looks to stem capital outflows.

JD invested about $400 million for a stake in U.K.-based high-end e-commerce platform Farfetch in June...