Chinese e-commerce giant PDD Holdings, which owns Temu, has moved its official headquarters from China to Ireland in recent days. As aggression from communist China continues to inflame tensions with the West and liberal democratic nations, more and more Chinese companies are trying to downplay their China-ties amid increasing aversion to the Chinese Communist Party in global trade.
Temu, a successful mass consumer online shopping platform, was founded in 2022 in Boston, Massachusetts, by parent company PDD Holdings Inc., which operates Pinduoduo—a cheaper version of Amazon—in China.
In a recent filing with the U.S. Securities and Exchange Commission (SEC), PDD Holdings listed Dublin as its “principal administrative office,” replacing its main office in Shanghai….