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China Criticizes EU Probe Into JD.com Ceconomy Bid

Financial Times Companies •
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China has criticized the European Union's investigation into JD.com's €2.2 billion bid for German electronics retailer Ceconomy, labeling it as "undue extraterritorial jurisdiction." The Chinese justice ministry has barred organizations and individuals from assisting the EU's foreign subsidies investigation, warning that Beijing may "resolutely retaliate in accordance with the law." This marks a significant escalation in trade tensions between China and the EU.

The European Commission launched an in-depth probe in May to examine whether unfair subsidies were involved in the deal, which was initially expected to complete in the first half of 2026. The investigation threatens to complicate the transaction, with a decision deadline set for October 2.

Analysts suggest that China is responding to increasing EU scrutiny of Chinese ecommerce platforms under the Digital Services Act and various anti-dumping campaigns. The EU is also considering new laws requiring companies to diversify supply chains away from China.

Beijing's latest move invokes new regulations introduced in April targeting unlawful extraterritorial actions by foreign governments. The European Commission maintains that its foreign subsidies regulation applies uniformly regardless of company nationality or ownership.