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Inventories, net
12 Months Ended
Dec. 31, 2020
Inventories, net  
Inventories, net
10. Inventories, net
Inventories, net consist of the following:
 
    
As of December 31,
 
    
2019
    
2020
 
    
RMB’000
    
RMB’000
 
Products
     58,795,341        60,454,174  
Packing materials and others
     223,234        470,386  
    
 
 
    
 
 
 
Inventories
     59,018,575        60,924,560  
Inventory valuation allowance
     (1,086,419      (1,992,041
    
 
 
    
 
 
 
Inventories, net
     57,932,156        58,932,519