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China Brands

Chinese online retailer JD taps into group buying service for energy firms

May 20, 2019


Abstract : China's major high-quality coal producer of Shanxi Jincheng Anthracite Coal Mining Group has clinched a group buying agreement with Chinese online retailer JD for a one-stop service of office supplies and manufacturing tools.

TAIYUAN, May 19 (Xinhua) -- China's major high-quality coal producer of Shanxi Jincheng Anthracite Coal Mining Group has clinched a group buying agreement with Chinese online retailer JD for a one-stop service of office supplies and manufacturing tools.

The two parties have engaged in a two-month trial, during which the coal miner purchased more than 80,000 varieties of merchandises through JD's online platform, with a total value exceeding 3 million yuan (433,600 U.S. dollars).

"The prices of items in online group purchasing are 20 percent lower on average than market prices," said Hou Erhui, chief accountant of the Material Equipment Company of the coal miner.

He said that as a company with over 60 years of history and more than 140,000 employees, Jincheng has business in more than 30 cities in 11 provinces and regions. It has a large demand for procurement of materials of a wide range of categories. The traditional purchasing mode has a long cycle, complicated process and high cost.

He said JD's service helps realize an electronic operation of the procurement process, which is efficient, cost-effective, saved human and material resources, and was open and fair.

JD has tapped into the group-buying service sector by signing with a number of energy conglomerates including Xishan Coal Electricity Group Co. Ltd., PetroChina Huabei Oilfield, CNPC Liaohe Oilfield and Yangquan Coal Industry (Group) Co. Ltd.

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