Wire flash
FinanceChina has ordered its entities not to assist the European Union's investigation into JD.com, marking the second time Beijing has invoked regulations countering what it considers unlawful extraterritorial jurisdiction measures. The EU probe is based on concerns that JD.com, a major Chinese e-commerce company, may have received foreign subsidies that could distort the European single market. The order from China effectively blocks cooperation from Chinese companies and individuals with the EU's investigation. This development escalates trade tensions between China and the EU, as Beijing pushes back against what it sees as overreach by Brussels into Chinese corporate affairs. The EU's investigation is part of a broader effort to scrutinize foreign subsidies that could give companies an unfair advantage in the European market.
The Business TimesRegional