JD.com's €2.2 bn European Bid and Joybuy UK Launch Heighten Amazon Competition
AMZN•British ministers are urged to probe JD.com's UK launch under the Joybuy brand over concerns that Chinese state subsidies give it an unfair edge over Amazon. This follows an EU investigation into JD.com's €2.2 billion Ceconomy bid and its interest in Currys, Argos and Very Group acquisitions.
1. UK Call for Inquiry into Joybuy Expansion
Alicia Kearns has called for Parliament to investigate JD.com's UK launch under the Joybuy brand, citing concerns that Chinese state subsidies give it an unfair competitive advantage over domestic online retailers including Amazon. The call highlights suspicions that JD.com benefits from financing, tax incentives and grants not available to British firms.
2. EU Investigation and Acquisition Bids
The appeal follows an EU in-depth probe into whether JD.com received foreign subsidies that distorted the internal market, triggered by its €2.2 billion bid for German retailer Ceconomy. JD.com's expansion strategy also includes reported bids for Currys and Argos, and links to a potential takeover of Very Group.
