Ceconomy AG

JD.com has proposed remedies to the European Commission as part of its in-depth investigation into the company's $2.5 billion offer for German electronics retailer Ceconomy. The nature of the remedies was not specified in an EU regulatory filing cited by Reuters. The EU launched its in-depth investigation in May 2026 under the Foreign Subsidies Regulation, following an initial assessment that identified potential subsidies to JD.com, including preferential financing, tax breaks and grants from bodies possibly linked to China. Ceconomy entered discussions with JD.com over a possible voluntary public offer in July 2025, and a Statement of Grounds was issued last month formally setting out the Commission's concerns. China's Ministry of Justice and Ministry of Commerce issued a directive on 19 August 2026 instructing domestic entities not to carry out or support the EU investigation, which Beijing characterised as undue extraterritorial jurisdiction.

China has ordered domestic entities not to cooperate with a European Union investigation into e-commerce company JD.com, alleging the probe constitutes undue extraterritorial jurisdiction. The Ministry of Justice, together with the Ministry of Commerce and other departments, issued the notice under China's Regulations on Anti-Undue Extraterritorial Jurisdiction by Foreign Countries, covering the EU's cross-border investigation practices against JD.com under the bloc's Foreign Subsidies Regulation. The EU investigation concerns JD.com's $2.5 billion bid for German electronics retailer Ceconomy, with the European Commission opening an in-depth probe in May 2026 over possible subsidies including preferential financing, tax incentives and grants. A Ministry of Justice spokesperson said China hopes the EU will immediately correct its erroneous practices and cease abusing the foreign subsidies investigation tool, warning that if the EU persists in unilateral actions, China will resolutely retaliate in accordance with the law. The move follows a similar order issued by China in May 2026 against an EU investigation into Chinese security firm Nuctech, also conducted under the Foreign Subsidies Regulation.

Chinese retail group JD.com has signed a co-operation agreement with US-based Carrier to create a joint omnichannel digital retail ecosystem centred on home comfort products. Carrier's brands, including Toshiba HVAC and Carrier Residential & Light Commercial, will deepen their existing relationship with JD.com by combining the retailer's online commerce infrastructure with its physical store network. The announcement comes as JD.com faces increasing regulatory attention in Europe, with the European Commission issuing a statement of grounds in its in-depth investigation into potential foreign subsidies linked to JD.com's proposed acquisition of German retailer Ceconomy. Late last month, the Conservative Party reportedly urged the UK Government to review JD.com's activities, citing concerns that the company's growth in Britain could threaten high street retailers.

Chinese e-commerce giant JD.com has received a formal notice from the European Commission outlining concerns over its proposed $2.5 billion acquisition of German electronics retailer Ceconomy. The notice was one of several major corporate developments in Asia this week, alongside Samsung Electronics creating a new robotics division called Robotics eXperience to oversee its mid-to-long-term robotics strategy, and Playtika discussing the sale of Israeli game developer SuperPlay to Tencent in a deal valued between $1 billion and $1.5 billion. In Europe, Airbus unveiled a €5 billion share buyback and raised its medium-term financial targets, Commerzbank invited UniCredit to start merger talks, and Rolls-Royce announced two commercial engine agreements. Global markets were mixed, with the S&P 500 down 0.4% and the Nasdaq falling 2.1%, while the Dow rose 0.2% and European equities gained 0.8%.

The European Commission has opened a formal investigation into JD.com's proposed acquisition of German electronics retailer Ceconomy under the EU Foreign Subsidies Regulation. The review examines whether non-EU state support distorts competition, adding regulatory uncertainty to JD.com's cross-border expansion into Europe's consumer electronics market. The proposed deal, valued at €2.2 billion, would give JD.com a brick-and-mortar and online retail presence in a major European market. A formal decision deadline is set for 2 October, providing a defined timetable for the regulatory process. The investigation highlights broader scrutiny of Chinese companies expanding in the EU and may influence how JD.com structures future overseas deals.