The parent company of Chinese discount ecommerce site Pinduoduo and its US-based equivalent Temu has shifted its headquarters from China to Ireland to shield its expanding global arm from tensions between Washington and Beijing.
PDD Holdings has listed Dublin as its “address of principal executive offices” in recent US exchange filings, changing its location from Shanghai.
The move underscores the growing importance of the Temu marketplace to PDD, which launched the subsidiary in the US in September in a bid to replicate the soaring global popularity of other Chinese brands such as the fast-fashion giant Shein.
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