Why it matters: The market pressure that JD faces has now intensified as Pinduoduo, which operates on the principle of low prices and user-friendly after-sales service, continued to nibble away at what was once China’s second-largest e-commerce retailer by market capitalization. Rarely seen in public, founder Richard Liu has recently returned to media headlines for his wolfish statements within the company. As JD rushes for its most important 618 event, Liu’s remarks on the company’s tendency to fire underperformers who don’t work hard have raised concerns about its ability to maintain growth. Details: The company had a press conference about the 618 mid-year shopping festival on Tuesday, where JD promoted it will provide “saving to the extreme and cheaper shopping experiences” to customers. The price war that has permeated the industry in the past two years seems like a bottomless pit for e-commerce participants.