Welcome to Managing Asia, I'm Christine.
欢迎来Managing Asia，我是Christine。
In the world's biggest e-commerce battleground, JD. com is a giant here in China.
在世界上最大的电子商务竞争中,京东是其中一个巨头。
This week in Beijing, we meet the influential villain air behind the online retailer, Richard Liu.
本周在北京，我们会见了这个网络零售商的幕后主导者。
Inside the 60 billion dollar ecommerce Empire, JD's 43-year-old CEO is doubling down, direct bold and unapologetic.
在这个价值600亿美元的电子商务帝国里，这个43岁的京东CEO正加倍地投入，直接大胆且毫无悔意。
Richard Liu wants to be the undisputed top retailer in China, not just online, but offline.
刘强东希望成为中国无可争议的顶级零售商，不仅仅是在网上，而且还有在线下。
Viana, called ecommerce foods will have a multi-channel or multi business model on the retail industry.
我们将在零售行业拥有多通道或多业务模式。
When we use the new technology to make sure we can satisfy our customers in given a base.
当我们使用新技术时，可以确保我们能在给定的基础上满足我们的客户。
JD's billionaire founder is a natural techie with humble roots growing up in Jiangsu province.
京东的亿万富翁创始人是一名天生的技术专家，在江苏长大，出身卑微。
The son of a cargo ship owner learned to write codes while studying in university.
这个货船船东的儿子在大学时期学会了写代码。
Liu has also been a start-up guy since young, trying his hand in a restaurant business before selling laserdisc and CD writers, and only stumbling upon the Internet in 2004.
他从年轻时就开始创业，在卖激光唱片和CD机之前，他曾试着在餐馆里工作，只在2004年时才进入互联网。
Tom not even I made a rule, I only worked with famous brands because the middle class of China will grow very fast, so I think I make a good choice.
一开始我就制定了一个规矩，我只和著名品牌合作因为中国的中产阶级发展得很快，所以我认为我做出了一个很好的选择。
You want to be trustworthy and reliable?
你想成为值得信赖和可靠的人吗？
Yes.
对。
JD has jumped onto the big leagues.
京东已经进入了大企业行列。
It's the world's third largest Internet company by revenue, a Fortune Global 500 company, with one of the most intelligent logistic networks in the world.
按收入计算，它是世界第三大互联网公司，也是一个财富全球500强公司，拥有世界上最智能的物流网络之一。
It's now locked in a fierce dog fight with Jack Ma's Alibaba.
现在，它与马云的阿里巴巴展开了激烈的竞争。
Right from the start, you've had to battle Alibaba, which is a dominant player, and it's helped our platform.
从一开始，你就不得不与阿里巴巴对抗，那是一个占主导地位的公司，它对我们的平台也有过帮助。
Unlike Alibaba which offers a marketplace for merchants and sellers, you sell directly to consumers, you carry your own inventory, and you are responsible for delivery itself.
与阿里巴巴为商家和卖家提供了一个市场所不同，你们是直接把货物卖给消费者，你们有自己的库存，你们自己负责送货。
Why take on a different business model?
为什么要采用不同的商业模式呢？
Because I need as a quality control.
因为我需要一个质量控制。
I can 100% make sure I recruit from my company to the customer is qualified.
我可以100%保证我们公司卖给客户的货物是合格的。
And also we need a loud time to build a whole like a traffic system, postal service system, dealing system, logistic system and either a lot of time to build up the systems.
我们还需要一些时间来建立一整个交通系统，邮政服务系统，处理系统、物流系统需要很多时间来建立这些系统。
When the system is ready, we can open to the solid part vendors, that's our QB is the model.
当这些系统建立好时，我们可以向实体供应商开放，这就是我们的QB模型。
Controlling quality, controlling the entire supply chain.
控制质量，控制整个供应链。
How long did it take to win over the Chinese consumers trust?
赢得中国消费者信任需要多长时间?
Well I think almost spend from 2004 to 2010, and is it a six years.
我认为是从2004年到2010年，这是6年的时间。
So when we get a very good reputation from one owner side and consumer side.
因此，当我们从商家一方和消费者一方获得良好声誉的时候。
So we began to open our platform to the sort of part vendors, and make our strict standard for the sort of party vendors.
我们开始向实体供应商开放我们的平台，并为实体供应商制定严格的标准。
you were very determined from the start to make sure there was no counterfeiting going on on your website itself.
你从一开始就很坚定确保在你的网站上没有假货。
Yeah.
对。
Before you listed a company in 2014.
在2014年上市之前。
Tencent took a 15% stake in JD. com which gave you access to 900 million users on its WeChat and about QQ platform.
腾讯收购了京东15%的股份这让你可以在微信和QQ平台上接触到9亿用户。
How much has your relationship with Tencent? helped you translate into top-line growth for the company all these years?
你与腾讯的关系有多近？这些年来帮助公司实现了公司的业绩增长？
I think a tencent company, like an unlimited resources warehouse and like WeChat today.
我觉得腾讯对于我们来说，是一个无限的资源，就像一个仓库比如今天的微信。
everything we have seen is less than 10%.
我们看到的还只是冰山一角，不到10%
I mean here still our elicitor over 90% of gold waiting for us to dig out.
我觉得仍有90%等待我们挖掘。
So it can bring us a lot of new active customers and for wechat we can touch any consumer in China.
腾讯可以给我们带来更多客户通过微信，我们可以触及更多中国消费者。
How much has your relationship with Tencent helped translate into top-line growth for the company?
你们成为一个顶级公司多大程度上得归功于腾讯呢？
Today over 24% of the active new customers come from both mobile qq and wechat, so it can help us to attract more new customers.
今天，24%的新顾客来自于手机QQ和微信，它们可以帮助我们吸引更多的新顾客。
Your recent partnership with Walmart has also boosted sales volume and attracting new customers. what other partnerships are you exploring, to help drive growth for JD. COM?
你们最近与沃尔玛关系的发展也帮助了你们提高销量，吸引新顾客。为了京东商城的发展，你还将发展哪些伙伴关系呢？
Well we have a lot of new projects.
我们有很多合作。
You know we have our project means JD with Tencent.
比如京东与腾讯的合作。
We also have project JD with jinritoutiao which also have a huge traffic.
京东与今日头条今日头条有巨大的资源。
We have a project with JD baidu, and very soon I think by the end of this month we'll have a new product called JD with qihu.
京东也有和百度的合作，我觉得很快在这个月末京东与奇虎360也会合作项目。
So both qihu Tencent Baidu and jinritoutiao, they have a huge traffic which can bring more new customers fast.
奇虎360，百度，腾讯，今日头条，都拥有庞大的资源这会给我们带来新的客源。
But profits have been elusive though JD was profitable for the first time in q1, since 2014 it fell back into the red in q2 with a net loss of 73 million dollars.
但是京东的利润在减少从一开始盈利，到2014年处于亏损状态损失七千三百万美元。
Your strategy of building an extensive logistics network has also helped you close the gap with Alibaba here in China.
构建庞大物流网络的战略帮助你缩小了与阿里巴巴在中国的差距。
But it's been a costly exercise one, that's kept you away from the path of profitability are things going to change soon. is that going to change soon?
但是这很烧钱，甚至让你处于亏损状态。这个情况会很快发生改变吗？
I think is a misunderstanding.
我认为这是个误解。
I mean our own logistic system didn't bring more cost to us, but it is saving a lot of money.
我们自己的物流网络不仅没有增加成本，反而更加省钱。
Because our logistic system is quite efficient, and a lower cost compared with sauropod a logistic delivery companies.
因为我们的物流网络相当高效，和比起第三方物流公司我们的成本更低。
So we will keep investing our logistic system and make sure in the future.
所以我们会继续加大对物流的投资确保未来。
The efficiency will be faster and faster, and the cost will be lower lower, what sort of cost savings are you looking at for your logistics.
效率越来越高，成本越来越低，你觉得你的物流平台是如何节省开支的呢。
I think I use famous like efficiency.
我觉得还是效率问题。
I can give you an example in Beijing our delivery man can delivery over 150 puzzles per day.
给你举个在北京的例子吧。我们的配送员一天可以配送150个包裹。
But five years ago they can only deliver 60.
但是5年之前，这个数字是60
I'm sure are you next five years the can deliver over 250. and a second is we are building more warehouses.
我相信，在未来五年，他们一天将配送250个包裹。第二点是，我们建立了自己的仓库。
Today we have over three hundred and thirty five warehouses in China.
今天，我们在全国拥有335个大型仓库。
In next three years we will build over five hundred.
在未来3年内，我们将建立500个。
So our goods will be closer closer to our customers, to save more delivery cost.
我们的产品距离顾客就越来越近，配送成本也会大大降低。
You're talking about economies of scale that's when things will start to kick in.
你在讲经济手段这会让一切顺利起来。
yeah in the past our logistic business is like a cost center.
是的，过去我们物流服务总是占据最多的成本。
But we want to bea profit center in future.
但是今后它将是我们盈利的关键。
Last year in 2016 despite growing revenues to 37 point 5 billion u. s. dollars.
去年2016年，尽管收入增长37.5千万美元。
JD. com posted a loss of point four billion.
京东公布损失4亿。
How do you expect to do this year 2017?
2017你将希望通过什么扭转局势呢？
Well anything will be over expectation from anyone including both inside and outside.
所有事情都会变好包括国内和国外的人。
Are you close to profitability?
你要盈利了吗？
We have been already profitably from Cuba yeah.
我们已经盈利了。
Are you also profitability for the full year?
全年都盈利吗？
Yes.
是的。
so this year 2017 will be the year you turn profitable?
所以2017将成为京东扭亏为盈的一年吗？
Yes.
是的。
How profitable?
多盈利？
We have a guidance.
我们有计划的。
You know we have a long guidance.
我们有长期的计划。
The first guidance is between from zero to one percent.
第一阶段是从零到百分之一。
But I think, we will, I don't know how to say increase the guidance.
但我觉得，我们会，怎么说呢，提高这个计划。
What's going to drive profitability this year?
今年的盈利是由什么驱动的？
What's gonna be some of the factors?
有什么方面的因素？
That help you get to profitability this year?
会帮你今年盈利呢？
Your logistics will be more efficient.
物流会更加高效。
I save some money and once you groups were larger basic.
节省了钱一旦集团有了更大的基础。
You have more negociation power.
你就会有更大的谈判权。
So you can get better terms from the suppliers.
所以你可以从供应商中谈到更好的价钱。
It can improve your gross money.
可以提高收入。
So it can help us to be profitable.
这样有助于我们实现盈利。
So just to be clear.
所以明确的说。
This year we'll finally see you turn profitable.
今年我们最终会看到你可以实现盈利。
Yes.
是的。
Earlier this year you announced a spinoff of your finance unit JD finance.
今年早期你宣布拆分了京东金融。
Is it ultimately to get into more financial services?
这是为了根本上获得更多的金融服务吗？
Are you ultimately looking to list JD finance?
你最终是想让京东金融上市吗？
I think it's both.
我觉得两者都有。
Because like our China local company is easier for us to get a license from the government.
因为对我们中国本土公司来说更容易从政府处拿到许可证。
Second you know it's a financial consumer business model, if we can list in China.
第二，这是金融消费者的商业模式，如果我们可以在中国上市。
It will be very good to communicate with the consumers.
非常有利于和消费者沟通。
What financial services could JD finance get into?
京东金融可以触及到哪些金融服务？
A lot, we have, from the online payment system, to the consumer credit and also to the supply chain.
很多，我们有线上支付系统的形式，消费信贷供应链金融服务。
In the future and I think, we can bring more service for our partners and customers.
在未来我认为,我们可以带来更多的服务给我们的合作伙伴和客户。
When are you looking to list JD finance?
什么时候京东金融上市？
What sort of timeframe were you looking at?
你有计划时间表吗？
No today we have no any time.
没有，目前我们没有任何计划。
JD. com beat Alibaba to list in NASDAQ.
京东打败阿里巴巴，在纳斯达克上市。
Are you looking to do the same with JD finance?
京东金融也打算这样做吗？
VS ant financial.
打败蚂蚁金融。
Listing isn't competing to something.
上市不是竞争。
No?
不是吗？
Listing just a way as a huge company is need to be a public to make finance more transparency.
上市就和大公司一样需要走向大众使资金更加透明。
So it's very good for our partners, for finance I think listing to be listed never nothing to the competition.
所以它非常有利于我们的合作方，对于金融，我认为上市从来不是为了竞争。
You recently also invested close to 400 million dollars in a uk-based ecommerce website FarFetch.
最近你投资了将近4亿美金给英国的电商网站FarFetch。
How significant is this deal in your push to get into the luxury market?
这笔交易有多重要在你推进进入奢侈品市场步伐中？
In the future we have a judgment in China luxury market
未来我们会对中国奢侈品市场进行评估
first more and more Chinese consumer would like to buy some unique some special unique SKUs from the luxury brands.
首先越来越多的中国人想要买一些独特的一些特别独特的来自奢侈品牌生产的产品。
So FarFetch is very good at cooperating with the boutiques.
所以FarFetch非常擅长和精品店合作。
You know a lot of us clear our profits in China.
我们很多人对中国的利润有一定的了解。
You can unified both online and offline.
你可以统一线上和线下。
So you can bring more value to the challenge consumers apart from far fetch.
那么你就可以给顾客提供更多的价值除了远程吸引顾客。
Are you looking to make more acquisitions in this face?
你是为了在这方面取得更多的收益吗？
No.
不是。
we will build our own luxury platform.
我们会构建专属的豪华平台。
We call the top life.
我们称之为巅峰人生。
It will be on the market very soon.
这个很快会上市的。
So but it's different from favish.
但是这和Favish是不同的。
The topple of we will only work with the luxury company which have been in China.
这次我们只会和中国的大公司合作。
So savage like a power line using the model power line is a local business model.
就像电力线模型那样电力线是我们当地的商业模式。
How big is the challenge?
请问这件事难度大吗？
To convince luxury brands.
说服奢侈品牌。
To sell their products on your e-commerce website.
在你的网页上销售他们的产品。
Given all these concerns about counterfeits in China.
特别是在中国假货泛滥的情况下。
Yeah it's really a challenge.
没错，这的确很困难。
Because in the past hundred years,
因为那么久以来，
luxury brands only do business you know offline.
奢华品牌只在线下做买卖。
But the good news is today.
但是好消息是如今。
I really like tripping the I realized they need to go to the digital world.
我喜欢平稳地（应为口误）我意识到他们需要走进网络世界了。
So I think we need some time.
所以我认为我们只是需要花些时间。
But sooner or later,
不过迟早的，
I'm sure we will cooperate with any electric bags.
我确信我们会和全部的电商合作。
They also know that China is a huge market.
他们同样也知道中国是一个非常庞大的市场。
They cannot ignore.
他们不能否认。
Yes.
是的。
He is probably in China I mean, the online business will be a majority channel.
他或许知道在中国，我的意思是，线上生意将会是主要的交易途径。
Just not like you know Europe not like the US,
不像欧洲，不像美国，
the penetration or e-commerce in China will be higher than any country in the world.
中国突破或电子商务发展的速度比世界上任何一个国家都快。
These days after operating for more than ten years,
在运营超过十年的日子以来，
the rivalry between you and Alibaba is intensifying.
你和阿里巴巴之间的竞争一直很激烈。
You're gaining market share and you're closing the gap on Alibaba.
你如今正在扩张市场占有率和阿里巴巴的差距越来越小。
What's your outlook for JD. com in the next five years?
在接下来的五年里，京东前景是怎么样的？
Are you going all-out to overtake Alibaba?
你是打算全力赶超阿里巴巴吗？
Within five years that I'm sure we will surpass them.
我能确保在五年间我们会超过他们。
To be the largest Peters a platform in China.
成为中国最大的购物平台。
Yeah because of me we always grow faster than them,
因为我们发展得比他们快，
and also because of our user experience.
还有我们的用户体验感受。
Is always better than any competitor in China.
总是比中国任意一个竞争者好。
so you're pretty confident.
所以你非常自信。
you can overtake Alibaba here in China, 100%.
你可以超过阿里巴巴，百分百。
So Jack Ma should be afraid of you.
所以马云应该会怕你。
I don't know.
这我就不知道了。
You can ask him.
你可以问问他。
you said five years to overtake Alibaba here in China.
你说你用五年时间超过阿里巴巴。
Could it happen sooner?
可以再快点吗？
Yes.
可以。
Just possibility.
可能吧。
Stay with us more with Richard Liu founder and CEO of jd. com in just a moment.
别走开，让我们走进京东CEO，刘强东。
Mommy you started go to our China.
你如果出发去中国。
Now you know that have a bottle,
你会知道，如果有一个钱罐子，
and we will continue to invest.
我们会持续往里投资。
No any limited.
并且无止境。
