▲ European Union (EU)
China has denounced the European Union's request for data regarding its subsidy investigation into e-commerce giant JD.com as an "unjustified extraterritorial jurisdiction" and prohibited domestic organizations and individuals from cooperating.
The Chinese Ministry of Justice issued a notice today (the 19th) stating that the EU's subsidy-related investigation measures against JD.com constitute an unjustified extraterritorial application of law, declaring that "no organization or individual shall implement or assist in the implementation of such measures."
Through a Q&A-style statement released by a spokesperson, China criticized the move, saying, "Recently, the EU used the Foreign Subsidies Regulation to investigate JD.com, arbitrarily demanding extensive and unnecessary information within China from abroad." The statement added that this is an "unreasonable demand and a serious undermining of international the rule of law."
The European Commission announced last May that it had launched an in-depth investigation under the Foreign Subsidies Regulation regarding JD.com's acquisition of German consumer electronics retailer Ceconomy, worth $2.5 billion (approx. 3.4782 trillion won).
The EU is examining whether JD.com received preferential financing, tax benefits, and subsidies from the Chinese government, giving it an unfair advantage over competitors during the acquisition process.
The Chinese Ministry of Justice warned, "We hope the EU will immediately correct its wrong approach, stop abusing investigation tools, and create a fair, impartial, and predictable market environment for companies investing and operating in Europe," adding that "if the EU persists, China will take resolute countermeasures in accordance with the law."
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