JD.com Takes 30% Stake in Allianz China

JD.com has been approved to invest 483 million yuan ($71.11 million) for a 30% stake in Allianz China, according to the China Banking and Insurance Regulatory Commission. Three other Chinese companies, China Sinda, Shenzhen Huijing Tongda, and Shanghai Snow Light Capital will take 12.4%, 4.27%, and 3.33$ stake respectively in Allianz China after the transaction.

Following the investment, JD.com will become the second largest shareholder in the insurance firm, with Allianz SE holding 50%.