UK Bank Santander Announces Commercial Partnership with Jd.Com, China’s Largest Retailer
Partnership enables Santander’s SME clients to launch stores on JD.com Worldwide, through an e-commerce platform. Agreement signed during visit by Rt. Hon. Dr Liam Fox, Secretary of State for International Trade
Posted by Times News on Wednesday, 10th January 2018
Santander UK yesterday announced the official commercial partnership with e-commerce giant, JD.com.This follows the signing of the MOU with Santander back in June 2016, where both parties pledged to work together to provide increased and easier access to the Chinese e-commerce market. The partnership means Santander’s UK based Small and Medium-Sized Enterprise (SME) customers can now launch stores on JD.com Worldwide.
JD.com is China’s largest retailer and it offers international merchants the ability to tap into the Chinese market without a need to be physically present in China. It offers immediate access to their base of more than 266.3 million active customers and a renowned and comprehensive logistics network, which can adapt to any customisation requirements, while still achieving reliability and timeliness promises. There is further reassurance for SMEs with their zero-tolerance policy towards counterfeit goods.
The scale of the Chinese market is phenomenal. China’s middle class is expected to grow to 600 million people by 2025, with 200 million more online retail shoppers projected, and online retail sales expected to double to USD 1.7 billion by 2020.
Since the signing of MOU last year, a carefully selected group of Santander’s customers have started leading the way in embarking on this exciting new journey. Santander has been facilitating a range of support services to these UK SMEs using JD.com Worldwide’s cross-border e-commerce platform. A few of these SMEs have already started selling on JD.com and many are in advanced discussions and in preparation to list and/or launch their online flagship store in the coming months. We expect to see many more of our customers come aboard in 2018.
John Carroll, Head of International Business at Santander Corporate & Commercial Bank said: “Facilitating these connections between customers and genuine business opportunities (across borders) is the essence of what we’re trying to do with our international business. We are thrilled to announce our official partnership with JD.com, which allows our SME customers to start selling their products in China via JD.com Worldwide’s extensive network that is dedicated to providing Chinese customers with quality products from around the world.”
Kaisi Li, Deputy General Manager of JD.com Worldwide, said: “Through our cross-border ecommerce 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 SMEs 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.”
Santander is passionate about helping businesses make the most of the incredible benefits exporting can deliver. The Santander Group has one of the most extensive international networks and offers an unparalleled range of products and services to help firms realize their global aspirations.
This includes the award-winning Santander Trade Portal, a unique online tool for businesses that can identify where the best importing and exporting opportunities are for their particular products and services, as well as the Santander Trade Club that introduces Santander clients to an online community of importers and exporters in 14 countries to help them conduct business overseas.
In addition, Santander Group operates a dedicated International Desk Network, which covers Santander’s 10 core markets in Europe and the Americas as well China and North Africa, where Santander has alliances, to support UK businesses that are ready to enter new markets. Santander Corporate & Commercial also offers UK businesses the opportunity to go on Trade Missions to key markets. So far this year, Santander has run trade missions to the USA, China, UAE, Mexico, Spain and Chile.
Editor: Jian Ping Sun