MPs Demand Probe of JD.com’s €2.2bn Ceconomy Bid and £135 Loophole
AMZN•Shadow minister Alicia Kearns urged Parliament to probe JD.com’s UK expansion under the Joybuy brand over suspected Chinese state subsidies after its €2.2bn bid for Ceconomy. The company’s interest in Currys, Argos and Very Group has prompted plans to close the £135 de minimis import duty loophole by October 2028.
1. Parliamentary Probe Urged
Shadow national security minister Alicia Kearns has called on Parliament to scrutinize JD.com's UK expansion under its Joybuy brand. She cited concerns that the online retail group has benefited from Chinese state subsidies to support aggressive market entry.
2. EU Inquiry Background
The European Commission opened an in-depth inquiry into whether JD.com received foreign subsidies, including financing, tax incentives and grants, after its €2.2bn bid for German retailer Ceconomy raised distortion concerns.
3. UK Takeover Interests
JD.com has explored takeover bids for Currys and Argos and has been linked to a potential acquisition of Very Group, prompting debates over fair competition with domestic retailers.
4. De Minimis Loophole Reform
Under current UK rules, packages valued under £135 enter duty-free, a loophole scheduled to close in October 2028 as part of Treasury plans to level the playing field for high-street businesses.
