JD.com (JD, Financial) shares rose over 1% in pre-market trading, reaching $36.84. This boost follows a recent Citi research report, which surveyed approximately 2,500 Chinese consumers. The findings indicate that most respondents feel their financial situation has improved and anticipate increasing their spending over the next 12 months.
The survey highlighted increased spending on e-commerce platforms during this year's Singles' Day, driven by effective government subsidies that boosted demand for home appliances. Among China's e-commerce platforms, Citi's top pick is JD.com.
