Suning to sell consumer finance unit for $58m in restructuring – Nikkei Asia

ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon Mail ContactPath LayerPositive Arrow

Retail

Chinese group refocuses on core retail portfolio after expansion hits earnings

https%253A%252F%252Fs3 ap northeast 1.amazonaws.com%252Fpsh ex ftnikkei 3937bb4%252Fimages%252F8%252F3%252F7%252F3%252F39343738 3 eng GB%252FCropped 164676159620220308N%2520Suning

Suning rapidly broadened the scope of its operations with acquisitions, including the Chinese supermarket business of France’s Carrefour Group. (Photo courtesy of Suning Group)

NAOKI MATSUDA, Nikkei staff writer | China

SHANGHAI — Suning.com will unload its consumer finance unit as the embattled Chinese group seeks to exit money-losing operations and rebuild its core retail business under the leadership of a state-owned fund and major shareholder Alibaba Group Holding.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei’s Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter

Free access for everyone – Sep. 30

Find out more