(JW Insights) Jun 20 -- Chinese major online retailer JD expects to establish three enterprises with an income of more than RMB1 trillion($140.3 billion) and a net profit of over RMB70 billion($9.7 billion) in the next 20 years, reported China Daily on June 19, citing Xu Ran, the newly appointed CEO of JD.

Xu Ran, CEO of JD  Credit: China Daily

In a letter to its employees on June 18, the company said it aims to have five enterprises to enter the Fortune Global 500 list, bringing seven publicly listed companies that started from zero to obtain a market value of RMB100 billion($14 billion). It will also contribute RMB100 billion($14 billion) in taxes and create over 1 million jobs.

Xu said the company will invest more than RMB3 trillion($418 billion) in salaries and benefits for frontline employees; increase the income of more than 100 million farmers; and bolster the digital transformation of 60 million micro, small, medium-sized enterprises in the next two decades.

JD plans to build a global supply chain infrastructure covering economies that account for 80 percent of the world's economic volume. It also set a target to achieve carbon neutrality, reinforcing its commitment to environmental sustainability, according to China Daily report.

(Gao J/Yuan XY)