CHINA SLAMS EU OVER JDCOM TAKEOVER PROBE

China's government denounced the EU probe as "improper extraterritorial jurisdiction" and instructed JD.com not to comply with the regulatory measures. The Foreign Subsidies Regulation, which took effect in September 2023, grants the EU authority to examine foreign acquisitions in the bloc for potential subsidy-backed advantages. The clash reflects escalating tensions between Beijing and Brussels over trade and regulatory authority. The EU has increasingly scrutinized Chinese companies' European investments, citing concerns about state subsidies distorting fair competition. JD.com's planned takeover of Ceconomy, which operates the Media Markt and Saturn electronics store chains across Europe, triggered the EU's investigation into whether Chinese government support gave the company an unfair advantage in the acquisition. China's prohibition on compliance signals potential defiance of EU regulatory frameworks, complicating the deal's path forward.