China rejects EU probe into retail giant JD.com, warns firms against cooperating
BEIJING, Aug 20 — Beijing said yesterday the European Union lacks jurisdiction to investigate Chinese e-commerce g...
Beijing has rejected the European Union's investigation into Chinese e-commerce giant JD.com's bid for the German electronics retail group Ceconomy, warning firms against cooperating with the probe. The EU initiated the investigation in May, suspecting that JD.com received state subsidies that unfairly distorted the EU internal market.
The EU's competition regulator, the European Commission, found preliminary evidence suggesting JD.com may have received subsidies that gave it an unfair advantage in the acquisition process. China's justice ministry stated that the EU's "cross-border investigation practices" targeting Chinese entities violated China's sovereignty and should not be followed by other organizations or individuals.
The ministry emphasized that no entity should "execute or assist in the execution of such improper extraterritorial jurisdiction measures". JD.com has denied receiving any state aid for the transaction and claimed the acquisition would not be financed by subsidies.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
