0803 GMT - China's trade-in policy is likely to drive JD.com's revenue higher, Daiwa analysts say in a research note. The retailer launched services for the government's trade-in program on its platform in August. Beijing rolled out the program to encourage consumers to trade in goods to boost demand. Daiwa analysts say the full impact has yet to be fully realized as some consumers are not aware of the program and there is capacity limitation on some products. They expect that once the full impact of the trade-in policy and consumption vouchers issued by JD.com kick in, it will drive the stock up. The analysts keep a buy rating and a target price at HK$200.00 on the stock, which last traded at HK$132.20. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

November 15, 2024 03:03 ET (08:03 GMT)

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