Ontario Teachers Make big profit off of Chinese Online Retailer
Did you know that the Ontario Teachers’ Pension plan has invested over $175 million into Chinese e-commerce operators JD.com? Well according to WWD.com, the teachers bought up 44 million shares in November 2012 and the investment is paying off big! By June 2012 the JD.com stock soared and the teachers’ investment sky rocketed to to $630 Million.
WIth growth like this, it’s evident that investing in online retail – especially in China has its pay off. According to WWD,
China’s e-commerce sales increased 47 percent to 629 billion yuan ($102 billion) in the April-June period, reaching over 10 percent of the nation’s consumer goods spending, according to data from Shanghai-based Internet consultant IResearch. Online shopping may reach 16 percent of retail sales by 2017, driven by increased mobile purchases.
JD.com’s gross merchandise volume, the value of all goods sold on its website, jumped 107 percent in the second quarter from a year earlier as revenue surged 64 percent to $4.6 billion, the company said Aug. 15.