On August 20 local time, the U.S. Securities and Exchange Commission (SEC) disclosed that Wal Mart has completed the sale of all its shares in JD, and is no longer a shareholder holding more than 5% of JD. Wal Mart previously said in a media statement, "This decision enables the company to focus on the strong business of Wal Mart China and Sam's Club in China, and allocate funds to other priorities." Wal Mart said that JD has been its valued partner for the past eight years, and the company is committed to maintaining a continuous business relationship with JD.