# The acquisition will allow one of China's largest ​retailers to expand outside its home market.

*business · news · 2026-05-28 · Reuters*

## Key points

- The EU opened its first in-depth probe of a Chinese deal under the Foreign Subsidies Regulation.
- JD.com may have received Chinese state support in the form of financing, tax breaks, and grants.
- These subsidies could have enabled JD.com to offer a higher purchase price for Ceconomy.
- JD.com claims the Ceconomy acquisition will not use foreign subsidies but only private bank debt and cash.
- The European Commission has set an October 2 deadline to decide on the acquisition approval.

The acquisition will allow one of China's largest ​retailers to expand outside its home market via ​Ceconomy-owned electronic products retailers MediaMarkt and Saturn. Sign up here. The decision by ⁠the European Commission marks its first in-depth probe of ​a Chinese deal under its Foreign Subsidies Regulation, which targets ​unfair foreign state aid and could require JD.com to offer concessions to address its concerns. "The preliminary investigation indicates that JD.com may have ​received foreign subsidies distorting the EU internal market. These ​include preferential financing, tax incentives and grants provided by entities possibly attributable ‌to ⁠the PRC," the EU executive said. It said these potential subsidies might have helped JD.com offer a higher price for Ceconomy and to support the German company's activities and growth ​through JD.com's technological ​and logistics ⁠capabilities that could distort the EU market. JD.com disputed the EU's concerns. "The proposed acquisition of ​CECONOMY AG by JD.COM will not be financed ​by ⁠any foreign subsidies granted by China or any other non-EU Member State, but instead is funded by external private bank ⁠debt ​and available cash from ordinary course ​business activities," it said in a statement. The Commission set an October 2 deadline ​for its decision. Reporting by Foo Yun Chee Editing by Tomasz Janowski

**Companies:** JD.com, Ceconomy
**Countries:** China, Germany

[Read the full story on Reuters](https://www.reuters.com/world/jdcoms-ceconomy-deal-faces-full-scale-eu-subsidy-investigation-2026-05-28/)

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