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China tech shares surge 16% on $3bn buyback plan, Q4 revenue beat

Chinese e-commerce group vows to boost price competitiveness but stay 'disciplined' has expanded discounts to lure price-conscious Chinese shoppers.   © Reuters

HONG KONG -- Chinese online retailer said Wednesday it may repurchase up to $3 billion worth of shares through March 2027, sending the company's U.S.-listed stock soaring.

JD reported a better-than-expected fourth-quarter net revenue of 306.1 billion yuan ($42.5 billion) on Wednesday, up 3.6% on the year, as Chinese e-commerce groups wage a price war amid an economic downturn.

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