China BNPL Market to Reach $277.81B by 2031 as JD.com Gains License

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ResearchAndMarkets projects China’s BNPL market will grow from $143.31B in 2025 to $277.81B by 2031 at an 11.0% CAGR, led by super-app platforms like JD Baitiao. JD.com’s 2025 acquisition of Home Credit China secured a nationwide consumer-finance licence, positioning it to expand licensed co-lending and cross-platform instalment services.

1. Significant 52-Week Decline and Recent Underperformance

Over the past 52 weeks, JD.com’s share price has fallen by more than 25%, marking one of its worst trailing-year performances in recent history. In the most recent trading session, the stock declined by 2.03%, underperforming the broader market’s modest pullback. This extended sell-off has driven JD.com materially below its five-year average valuation multiples, with forward price-to-earnings trading near the low end of its decade-long range. While short-term technical readings suggest continued pressure—shares remain below both their 50-day and 200-day moving averages—longer-term investors may view the weakness as an attractive entry point given the company’s leadership in China’s e-commerce ecosystem and recent improvements in logistics efficiency.

Sources

SBZG