Chinese e-commerce major JD.com said it was exploring a spinoff of its internet finance unit to facilitate the expansion of the business in its home market as it reported a third-quarter loss, The Wall Street Journal reports. JD.com is aiming to selling its whole stake in JD Finance to Chinese investors, including the parent company’s chairman, Richard Liu, it said Tuesday in a statement. JD’s online finance subsidiary would be fully owned by Chinese investors after such a sale, allowing it to expand its operations in certain licensed financial-services businesses in mainland China. The company’s third-quarter losses had widened by 51% to $121 million from a year ago. Revenue in the third quarter was $9.1 billion, and is expected to be between $10.9 billion-$11.3 billion in the fourth quarter.
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