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☆ PDD's Temu app tops U.S. iOS downloads for second year running amid greater scrutiny of China companies
▼ + stars: | 2024-12-17 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Temu, which ships cheap goods from China, first entered the U.S. market in 2022. As the likes of Temu and Shein attract American consumers with cheap goods and aggressive advertising, they have also caught the attention of Washington. U.S. officials are not the only ones concerned about Chinese imports flooding their domestic markets. In Southeast Asia, Vietnam and Indonesia have imposed a range of anti-dumping tariffs on Chinese goods, while Thailand recently announced measures to monitor cheap imports. Nomura estimates a U.S. ban on all de minimis imports from China could reduce the latter's annual export growth by 1.3% and drag GDP growth down by 0.2%.

Persons: Trump, ByteDance's TikTok, China's PDD, Biden, Donald Trump's, Nomura Organizations: Amazon, China's, China's PDD Holdings, iOS, CNBC Locations: China, U.S, StatCounter, Washington, Southeast Asia, Vietnam, Indonesia, Thailand

Analysts expect Temu, launched in September last year, to generate more than $16 billion in revenue this year. Chinese retail sales in September rose 5.5%, following 4.6% growth in August. PDD's revenue was 68.84 billion yuan ($9.62 billion) in the quarter ended Sept. 30, compared with analysts' average estimate of 54.59 billion yuan, according to LSEG data. The company's net income attributable to ordinary shareholders rose to 15.54 billion yuan in the third quarter, from 10.59 billion yuan a year earlier. ($1 = 7.1532 Chinese yuan renminbi)Reporting by Chavi Mehta in Bengaluru and Casey Hall in Shanghai; Editing by Shilpi Majumdar and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Temu, Xiaoyan Wang, Chavi Mehta, Shilpi Majumdar, Mark Potter Organizations: PDD Holdings, Pinduoduo, East, Alibaba, HK, Casey Hall, Thomson Locations: China, United States, Europe, East Asia, Australia, Bengaluru, Shanghai

☆ Chinese e-commerce giant PDD splashes on Super Bowl ad for its Temu U.S. shopping site
▼ + stars: | 2023-02-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Temu, the U.S. shopping app owned by Chinese e-commerce giant Pinduoduo , aired a commercial during the Super Bowl. But Temu's effort highlights its ambition to crack the U.S. e-commerce market, following in the footsteps of another Chinese online shopping company Shein. Chinese e-commerce companies from Alibaba to JD.com and now Pinduoduo have looked to expand overseas in the past few years. PDD Holdings said on Monday that it would begin shipping to Canada this month. Correction: This article has been updated to reflect when PDD Holdings Inc. officially changed its name

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