China and the EU, unexpectedly ended up arguing over JD.com.
The reason behind it is that in April this year, JD.com planned to acquire German electronics retail giant Ceconomy. As a result, the EU decided to launch an investigation into the deal, suspecting that JD.com has long been taking subsidies from China, allowing it to offer such a high price to buy a German company, thereby affecting fairness.
But then the EU began demanding large amounts of information from JD.com about related entities within China, involving various sensitive details.
Ultimately, departments including China’s Ministry of Justice and the Ministry of Commerce decided to step in. They said the EU’s approach was too excessive and issued a direct notice requiring that no organizations or individuals may carry out or assist with the EU’s request.
As a result, this acquisition case escalated into a diplomatic and political incident.
The reason behind it is that in April this year, JD.com planned to acquire German electronics retail giant Ceconomy. As a result, the EU decided to launch an investigation into the deal, suspecting that JD.com has long been taking subsidies from China, allowing it to offer such a high price to buy a German company, thereby affecting fairness.
But then the EU began demanding large amounts of information from JD.com about related entities within China, involving various sensitive details.
Ultimately, departments including China’s Ministry of Justice and the Ministry of Commerce decided to step in. They said the EU’s approach was too excessive and issued a direct notice requiring that no organizations or individuals may carry out or assist with the EU’s request.
As a result, this acquisition case escalated into a diplomatic and political incident.