JD.com Faces UK Investigation Over €2.2bn Ceconomy Bid and Joybuy Launch
JD•Shadow minister Alicia Kearns has urged UK Parliament to investigate JD.com's Joybuy launch and potential bids for Currys, Argos and Very Group, citing a €2.2bn bid for Ceconomy and suspected Chinese state subsidies. The Treasury advanced closure of the £135 de minimis import loophole to October 2028 to protect retailers.
1. UK Expansion Under Scrutiny
Shadow national security minister Alicia Kearns has called for parliamentary and regulatory scrutiny of JD.com's UK entry under the Joybuy brand, arguing that state-backed subsidies could give the company an unfair advantage. She highlighted recent moves to explore takeover bids for Currys and Argos as evidence of JD.com's aggressive growth strategy in Britain.
2. EU Subsidy Inquiry
JD.com is already subject to an in-depth European Commission investigation into alleged foreign subsidies following its €2.2bn bid for Ceconomy. Regulators are examining tax incentives, grants and financing provided by the Chinese government to determine whether they have distorted competition in the EU market.
3. Acquisition Targets in Britain
Beyond Currys and Argos, JD.com has been linked to a potential takeover of Very Group, expanding beyond e-commerce into established high-street brands. These acquisition pursuits reflect JD.com's ambition to combine online capabilities with brick-and-mortar retail presence in the UK.
4. Customs Duty Loophole Closure
To counter low-cost imports, the UK Treasury has moved the planned end of the £135 de minimis customs duty exemption forward from 2029 to October 2028. This change aims to level the playing field by subjecting more overseas parcels, including those from JD.com, to import duties.
