The news: JD.com reported its biggest jump in revenues in nearly three years—a welcome sign for retailers anxiously awaiting a recovery in Chinese consumer spending.

• Retail sales rose 14.7% YoY in Q4, bolstered by Singles Day as well as targeted stimulus efforts to boost spending on appliances and electronics.
• JD saw strong double-digit YoY growth in “most of our product categories as well as key metrics, such as our quarterly active users and shopping frequency,” CEO Sandy Xu said in a statement.

Behind the numbers: JD’s upbeat earnings mirror a similar report from Alibaba, which saw a sizable uptick in both new customers and orders in Q4 as shoppers appeared more eager to spend.