JD.com to invest $700m in Xingsheng Selected.

JD.com, a Chinese e-commerce company, agreed to invest $700m in Xingsheng Selected, a community group buying platform. The investment, which is subject to unspecified customary closing conditions, is expected to create synergies between the businesses of JD.com and Xingsheng in low-tier cities through close collaboration in technology, supply chain, and logistics.