China’s JD.com to shut e-commerce sites in Indonesia, Thailand

JAKARTA/BEIJING, Jan 30 (Reuters) – China’s JD.com (9618.HK) is to close its e-commerce services in Indonesia and Thailand, retreating from Southeast Asia after a bruising year for China’s retail and technology sectors.

JD.com will end its services in Thailand from March 3 and in Indonesia from the end of the same month, its local websites showed. Both units will stop taking orders on Feb. 15.

A spokesperson for JD.com said in a statement on Monday that the company will continue to serve global markets, including Southeast Asia, through its supply chain infrastructure.

The company, which did not give a reason for the closures, started its e-commerce operation in Indonesia under the name JD.ID in 2015 as a joint venture with Provident Capital, while the Thai platform was launched two years later with the country’s largest retailer Central Group.

But JD.com failed to gain traction against…