Photo by Gerald England via Wikimedia Commons
Santander UK is collaborating with JD.com, the biggest retailer in China, to enable its business customers to sell products in the Chinese market.
Customers of small and medium-sized enterprise at Santander will now be able to launch its stores on JD.com once they have experience in international trading and a turnover amounting to at least £10m.
JD.com has a customer base of over 266m people and will allow firms from the United Kingdom to access to the company’s extensive delivery network.
A Memorandum of Understanding was signed by JD.com and Santander in July 2016, and since then, they have been working to open up the website of the Chinese firm to customers of Santander.
The deputy general manager of JD.com worldwide, Kaisi Li, stated: “Through our cross-border e-commerce platform, we are making it easier than ever for international merchants to tap into the potential of the China market.
“This partnership with Santander opens up many more opportunities to small and medium-size enterprises across the UK. Demand for imported products in China is strong and growing rapidly, and we’re excited to work with Santander to enable more UK-based brands to benefit from the growth of this huge market.”