Google is paying $550m for a stake in JD.com, the Chinese ecommerce group, in a move that will see the two collaborate on retail and other initiatives.
The deal for a less than 1 per cent stake is the latest step in a China strategy being quietly stitched together by Google, whose core search engine has been blocked in China since 2010.
The move also burnishes the US company’s retail credentials, building on tie-ups it has signed in recent months with retailers including Walmart and Carrefour.
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