As reported this week, Walmart sold its entire stake in Chinese e-commerce giant JD.com for $3.6 billion. This move underscores how the global retail scene is changing. Walmart made this strategic decision following its recent earnings report, in which the company reiterated its commitment to expanding its business mix and investing in the future of retail.

With this transaction, Walmart has fundamentally changed its strategy for the Chinese market and instead focused on expanding its own brands there.

Walmart said in a statement: “This decision allows us to focus on our strong China businesses for Walmart China and Sam’s Club and deploy capital to other priorities.”

This change of course comes amidst the highly competitive and rapidly changing Chinese e-commerce market. Walmart’s decision to sell its JD.com shares could be an indication that the company is reassessing its position in this competitive market and that its investment in JD.com is no longer in line with its long-term goals.

Walmart still has a significant influence in China even after this divestment. According to one report, the company experienced remarkable growth in China, with sales increasing 16 percent to $17 billion in the fiscal year that ended January 31.