Trilogy of JDD

Jul 09-2019   

The 9th edition of Langrun Entrepreneur Forum had the presence of Mr. Chen Shengqiang, CEO of Jing Dong Digits, who spoke on the strategic and organizational evolution of his company. Prof. Chen Chunhua, BiMBA Dean, made a commentary on Mr. Chen's speech and conducted an in-depth dialogue with him.

JDD was formerly JD Finance, the financial arm of online retail behemoth JD.com. Mr. Chen said that he was new to finance, and what helped make up his mind to plunge into it were the words from Mr. Liu Qiangdong, the boss of JD.com: focus on long-term value by doing the most demanding and toiling work of the industry; and share profits with partners and employees.

The trilogy opened with Chen's team releasing an innovative product every three months with the aim of propagating inclusive finance. However, risks and problems cropped up in tandem with the rapid development of Internet finance, entailing the renunciation of some products. Mr. Chen said he spent one whole year pep talking the team into embracing Fintech. As the strategic evolution entered the third stage, JDD took on the mission of using digital technologies to empower real economy. JDD's organizational structure evolved as well, putting people at the heart of it.

Prof. Chen Chunhua commented that the most significant change in digital age is the restructuring of industrial values, which enables value creation in niche markets. Despite the challenges, the digital age allows entrepreneurs to enter new industries where they might not have relevant experiences, she said.