Chinese online grocery and delivery company Dada-JD Daojia has raised 500 million U.S. dollars from U.S. retailer Walmart Inc and Chinese e-commerce firm JD, China Daily reported Friday.

Beijing E-Town International Financing Guarantee Co launched a new financial product to support programs involved in the 2018 Beijing E-Town Innovation and Entrepreneurship Contest at a press conference, on Aug 9.

There was a time when China's State-owned automobile enterprises such as Beijing Automotive Industry Corp found revenue rolling in easily from sales of vehicles made by their joint ventures with foreign companies to government departments. But, as their ambitions grew and the domestic market matured, they sought greener pastures overseas.

Chinese online grocery and delivery company Dada-JD Daojia announced on Thursday it had raised $500 million from US-based retail giant Walmart Inc and Chinese e-commerce behemoth JD in its latest round of financing.

Beijing E-Town International Financing Guarantee Co recently provided long-term financing guarantee support to Beijing Silian Pharmaceutical Co. The financing was to help satisfy the firm’s working capital requirements.

Chinese e-commerce giant JD has announced the opening of an unmanned store in Indonesia, the first of its kind in Southeast Asia.