Walmart sells entire JD stock as it looks to focus on its own Chinese businesses

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US retail giant Walmart has exited its eight-year holding in China’s JD, one of the country’s largest e-commerce platforms, according to an SEC filing from Walmart on Tuesday. To stabilize the stock price, the company soon responded with a stock buyback plan worth $3.9 billion. Why it matters: The ending of the relationship comes as Chinese online retailers face sluggish consumer spending and stagnant retail revenue growth. Details: “This decision allows us to focus on our strong China operations for Walmart China and Sam’s Club, and deploy capital towards other priorities,” Walmart said in a statement. JD-affiliated DaDa is exclusively in charge of the delivery operation of Sam’s Club when shoppers place orders online.