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Illustration: Sarah Grillo/Axios

JD.com, a Beijing-based e-commerce giant, filed confidentially for a Hong Kong stock float that could raise at least $2 billion, per multiple reports.

Why it's the BFD: It reflects how Hong Kong's 2018 decision to relax listing rules on dual-class shares is paying off by bringing local giants back home, with JD.com looking likely to follow NYSE-listed Alibaba Group's giant Hong Kong stock sale from last November.

The bottom line: "JD.com’s potential Hong Kong secondary listing may help to narrow its valuation gap with global e-commerce peers such as Amazon and Alibaba. Alibaba’s market value increased by more than 20% within two months of its Hong Kong listing, as its offering attracted domestic investors who are also its customers," writes Bloomberg.

Go deeper

Dan Primack, author of Pro Rata
Jul 31, 2020 - Technology

Chinese facial recognition developer nears $1.5 billion funding round

Illustration: Aïda Amer/Axios

SenseTime, a Chinese developer of facial recognition technologies, is wrapping up a $1.5 billion funding round at a $10 billion valuation and is in talks to list on China’s STAR market, per Reuters.

Why it matters: This is the company’s first fundraise since being placed on a U.S. blacklist for alleged involvement in human rights abuses against Uyghur Muslims in China. It previously raised nearly $3 billion, including from U.S.-based firms like Fidelity, Glade Brook, Qualcomm Ventures, and Silver Lake Partners.

Updated 9 mins ago - Energy & Environment

Thousands without power as "hazardous" winter storm lashes East Coast

Satellite imagery of the Northeastern U.S. taken by NOAA on Jan. 17. Photo: NOAA

A major winter storm lashed much of the East Coast Sunday and Monday, causing widespread power outages and disrupting travel over the holiday weekend.

The latest: Authorities in North Carolina confirmed that two people died in a car crash and that they responded 600 vehicle accidents during the storm on Sunday, per the Washington Post.

2 hours ago - Health

CDC director says COVID-19 messaging should have been clearer

Rochelle Walensky. Photo: Stefani Reynolds-Pool/Getty Images

Rochelle Walensky, director of the Centers for Disease Control and Prevention, said in an interview with the Wall Street Journal that the messaging around the COVID-19 pandemic and changing guidance should have been clearer.

State of play: Walensky is being coached by media experts and is planning to have more press briefings by herself in order to ensure that CDC is seen as an independent, scientific entity, rather than as a political one, the Journal reports.