Sandy Ran Xu

In 2023, Sandy Ran Xu became the first woman to lead JD.com, the highest-ranked private Chinese company on the Global 500. The biggest push under her tenure? A bold expansion to food delivery, muscling into a sector dominated by Meituan and Alibaba. Competition grew so fierce that Beijing had to tell the combatants to tone things down. By 2026, JD.com had secured a strong foothold yet still trails far behind its two rivals. The venture strained profits for a time, but earnings have since rebounded: in the second quarter of 2026, non-GAAP net income rose 21% to 8.9 billion yuan ($1.3 billion), even as revenue slipped 2.9%.