UK Officials Pressure Probe into JD.com’s €2.2bn Bid and Retail Acquisitions
AMZN•Kearns urged a probe into JD.com’s UK launch under the Joybuy brand and its takeover bids for Currys and Argos over alleged state subsidies. EU investigators are examining JD.com’s €2.2bn Ceconomy offer and the UK will end its £135 de minimis import duty exemption in October 2028, ramping competition.
1. Shadow Minister’s Call for Investigation
Shadow national security minister Alicia Kearns has called on Parliament to scrutinize JD.com’s UK expansion under the Joybuy brand, highlighting its takeover bids for Currys and Argos and warning that alleged Chinese state subsidies could undermine British retailers.
2. EU In-Depth Review
The European Commission has launched an in-depth inquiry into whether JD.com received foreign subsidies, focusing on its €2.2bn bid for German electronics group Ceconomy and assessing the impact of Chinese financing, tax incentives and grants.
3. UK Tax Loophole Reform
The UK treasury announced it will close the £135 de minimis import duty exemption by October 2028, accelerating plans from 2029, as high-street retailers press for faster action to level the playing field against overseas e-commerce entrants.
