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Inventories, net
12 Months Ended
Dec. 31, 2021
Inventories, net  
Inventories, net
 
10. Inventories, net
Inventories, net consist of the following:
 
    
As of December 31,
 
    
2020
    
2021
 
               
    
(RMB in millions)
 
Products
     60,455        77,422  
Packing materials and others
     470        478  
    
 
 
    
 
 
 
Inventories
     60,925        77,900  
Inventory valuation allowance
     (1,992      (2,299
    
 
 
    
 
 
 
Inventories, net
     58,933                75,601