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Qiangdong Liu

Founder & Chairman, JD.com

Search every verified Qiangdong Liu interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In April 2025, a video circulated online of an internal speech Liu Qiangdong gave in late 2024 regarding JD.com's entry into the food delivery market. In the speech, Liu stated that JD.com's food delivery business must cap its net profit margin at 5%, including commissions and advertising fees, and said that executives would be punished if that limit was exceeded. He argued that existing food delivery platforms take excessive commissions, making it difficult for restaurants to profit, and that the industry has lowered its quality and safety standards. Liu also said JD.com would sign annual contracts with delivery staff and provide them with social security and medical insurance. He stated that JD.com should not rely solely on price wars against Meituan, a strategy he described as unwinnable, and instead should focus on occupying the "high ground of public opinion" by learning from the model of the Chinese retailer Pang Donglai. Earlier in 2024, Liu's leadership style and his use of the term "brothers" to refer to employees received attention in media commentary. Commentators noted that Liu had historically used the term to describe a close-knit team sharing hardships, but that as JD.com grew and adopted the 996 work schedule (9 a.m. to 9 p.m., six days a week), his definition shifted to include performance standards, with Liu stating that those who do not perform well are not his brothers. In a 2024 speech at Oxford University, Liu recounted his early career, including how he raised 500 yuan from villagers to attend university, and attributed JD.com's success to its self-built logistics system, which he said gives the company a retail cost of about 10% of revenue and an inventory turnover period of about 34 days.

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