Pinduoduo to invest 100 billion yuan to support sellers — Temu is looking for new markets
After the US lifted the de minimis exemption and imposed duties of up to 125% on Chinese exports, PDD Holdings, the parent company of Pinduoduo and Temu, announced the allocation of 100 billion yuan ($13.7 billion) to support sellers. The money will be used to help small producers shift from the American market to the domestic Chinese market and alternative destinations, including Russia and BRICS.
