Santander partners with China's biggest retailer to allow firms to sell products in Chinese market

 
Helen Cahill
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A man sits in front of a Santander bank
Participants will be able to launch stores online in the Chinese market (Source: Getty)

Santander UK is partnering with China's biggest retailer, JD.com, to allow its business customers to launch products in the Chinese market.

Small and medium-sized enterprise customers at Santander will now be able to launch stores on JD.com if they have international trading experience and a turnover of at least £10m.

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JD.com has a customer base of more than 266m people, and will give UK firms access to its extensive delivery network.

Santander and JD.com signed a Memorandum of Understanding in July 2016, and since then have been working to open up the Chinese firm's website to Santander customers.

Kaisi Li, deputy general manager of JD.com worldwide, said: “Through our cross-border e-commerce 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 small and medium-size enterprises 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.”

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