Benzinga | Jan 18, 2022 08:00AM EST

Shopify Partners With JD.com To Expand In China: Report

* Shopify Inc (NYSE:SHOP) has partnered with e-commerce giant JD.com Inc (NASDAQ:JD) to help U.S. merchants sell their goods in China, CNBC reports.

* JD will open an "accelerated channel" for brands on Shopify to begin selling via its cross-border e-commerce site in China.

* The report added that JD would handle the price conversion and logistics from the U.S. to China.

* The partnership will facilitate merchants to set up shop in three to four weeks rather than the typical 12 months that it takes foreign brands to begin selling in China.

* Price Action: SHOP shares are trading lower by 0.72% at $1,095.00 and JD lower by 2.78% at $71.67 in premarket on the last check Tuesday.