Suning Commerce Group Co. Ltd. (002024.CN), the country’s largest electronics retailer, plans to set up research and development centers in New York and Seattle, China Securities Journal reported Thursday, citing chairman Zhang Jindong. The company opened an R&D facility in Silocon Valley on Tuesday. The centers will create synergy across its business and speed up its transformation into an internet company, Zhang was quoted as saying. Suning has invested at least US$5 million in the Silicon Valley facility.
– Contact HKEJ at [email protected]