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Story summary
- EU regulators raided Temu's European headquarters in Dublin last week to probe potential Chinese state subsidies.
- Temu is a subsidiary of PDD Holdings.
- EU concerns focus on cheap Chinese imports and a €150 parcel waiver to end.
- The European Commission's Foreign Subsidies Regulation allows fines up to 10% of annual turnover for violations.
- Temu has grown in the EU, reaching 116 million monthly users since its April 2023 launch.
