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China rejects EU’s ‘unlawful’ extraterritorial overreach in JD.com probe; move signals Beijing’s resolve to safeguard its interests: expert_我的网站

蜘蛛侠

一 |

China's Ministry of Justice Photo: VCG
China on Wednesday determined that the EU's cross-border investigative practices targeting Chinese entities in its probe into JD.com under the Foreign Subsidies Regulation (FSR) constituted unlawful extraterritorial jurisdiction, and said it is barring organizations and individuals from implementing or assisting with the measures.
This statement was made by China's Ministry of Justice (MOJ), together with the Ministry of Commerce (MOFCOM) and other relevant departments. The announcement takes effect immediately.
The finding follows an investigation conducted pursuant to Articles 3 and 6 of China's rules on countering foreign states' unlawful extraterritorial jurisdiction measures. No organization or individual may implement or assist in implementing such measures, according to the official WeChat account of the MOJ on Wednesday evening.
The announcement sends a clear and firm message about China's position on the EU's unilateral measures, and the bloc should carefully weigh the broader implications of pursuing such actions, including the potential costs to its own interests and China-EU economic and trade relations, a Chinese expert said. Continued use of the FSR in this manner could erode investment confidence and further strain bilateral economic ties, the expert noted.
Countering extraterritorial overreach
A spokesperson for China's MOJ on Wednesday blasted the EU's targeting of JD.com, saying the bloc had arbitrarily demanded extensive and unnecessary information located in China from Chinese entities on a cross-border basis. Such demands are improper and constitute a serious violation of the international rule of law, the spokesperson said.
To safeguard China's sovereignty, security and development interests, as well as the legitimate rights and interests of Chinese citizens, legal persons and other organizations, the Ministry of Justice, together with the Ministry of Commerce and other relevant authorities, determined in accordance with rules on countering foreign states' unlawful extraterritorial jurisdiction measures that the EU's actions constituted unlawful extraterritorial jurisdiction. Any organization or individual is therefore prohibited from complying with or assisting in the implementation of the measures, according to the spokesperson.
The MOJ spokesperson urged the EU to immediately correct its wrongful practices, stop abusing the Foreign Subsidies Regulation as an investigative tool, and provide a fair, just and predictable market environment for companies investing and operating in Europe. If the EU persists with such actions, China will take resolute countermeasures in accordance with law, the spokesperson said.
Chinese e-commerce giant JD.com's $2.5 billion bid for German electronics retailer Ceconomy may involve Chinese subsidies, European ‌Union competition regulators claimed, as they opened a full-scale investigation into the deal, Reuters reported on May 28.
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, Reuters reported.
The decision by ⁠the European Commission marks its first in-depth probe of a Chinese deal under its so-called FSR.
This marks another time the rules on countering foreign states' unlawful extraterritorial jurisdiction measures have been invoked since they took effect in April.
In May, the MOJ, together with MOFCOM and other relevant departments, determined after an investigation that the EU's cross border investigative practices targeting Chinese entities in its investigation into Nuctech under the FSR constituted unlawful extraterritorial jurisdiction.
The latest announcement concerning the EU's unilateral move under the FSR once again reflects the Chinese government's firm position on safeguarding national sovereignty, security and legitimate rights and interests, while also representing a clear response to the EU's relevant practices, Jian Junbo, director of the Center for China-Europe Relations at Fudan University's Institute of International Studies, told the Global Times on Wednesday.
"The announcement sends a clear signal to the EU and other countries: China will not accept attempts by any country to use its domestic laws as a basis for exercising unlawful extraterritorial jurisdiction over matters within China, particularly when such actions undermine China's sovereign rights and interests," said Jian.
Likewise, China will not accept attempts to unilaterally address economic and trade frictions through so-called legal instruments when doing so harms the legitimate rights and interests of Chinese companies and the Chinese market, Jian said.
Call on fair, just market
The EU's frequent use of the FSR against Chinese companies is not an isolated occurrence.
In February, the European Commission announced an in-depth investigation under the FSR into Chinese wind turbine manufacturer Goldwind.
Responding to the bloc's move, a MOFCOM spokesperson said that the EU had recently frequently used the FSR to launch investigations into Chinese companies and had escalated investigations into Chinese wind power and security equipment companies to in-depth probes, showing clear targeting and discrimination. China has expressed serious concern and strong dissatisfaction over the moves.
The MOFCOM spokesperson said the EU's investigations had broadened the concept of "foreign subsidies" and involved multiple problems, including insufficient evidence to launch investigations and a lack of transparency in procedures, describing the practices as "typical protectionism in the name of 'fair competition.'"
In January 2025, following an investigation, MOFCOM already determined in accordance with the law that the EU's relevant practices constituted trade and investment barriers. Instead of correcting its practices, the EU has gone further down the wrong path.
"China has made its position very clear, and the EU should fully consider the consequences of continuing with such measures, including their potential impact on the EU itself and on China-EU economic and trade relations," Zhang Jian, a vice president of the China Institutes of Contemporary International Relations, told the Global Times on Wednesday.
If the EU continues to impose excessive restrictions on foreign companies through similar rules, it will not only raise compliance costs for multinational companies but could also undermine the competitiveness of European businesses, Zhang said, noting that the EU economy is already facing considerable challenges, while concerns over excessive regulation, bureaucracy and increasingly complex rules have also grown within Europe.
Moreover, such rules may ultimately constrain European companies as well as foreign businesses, experts noted. At a time when the EU economy is facing difficulties, adding more regulation and restrictions instead of addressing underlying problems would be akin to "drinking poison to quench thirst," potentially creating even greater problems for the European economy, Zhang said.
China and the EU are both major global economies. Chinese investment in Europe not only brings capital, but also creates jobs, strengthens supply chains, introduces new technologies and adds vitality to local markets, Jian said.
Moreover, from new-energy vehicles to air conditioners and other consumer products, Chinese companies have brought high-quality, cost-effective products to European consumers, helping meet much-needed market demand while providing consumers with greater choice.
Jian said that as China-EU cross border investment deepens, regulatory frictions are inevitable, but they should be addressed through dialogue and coordination rather than unilateral expansion of extraterritorial jurisdiction. Respect for each other's judicial sovereignty and legal boundaries is essential to stable and predictable economic and trade ties, the expert said.
。　　在持续火爆的AI交易势头中，美国知名投行Evercore ISI的分析师 Amit Daryanani认为，存储设备制造商、网络供应商和苹果公司未来将迎来强劲增长。　　在给客户的最新报告中，Daryanani推荐了2026年下半年“最值得持有的六大人工智能（AI）股票”，其中包括存储设备制造商和网络供应商，由于今年以来在人工智能硬件方面的强劲支出，这些公司已经为投资者带来了丰厚的利润。　　具体而言，他指出，存储设备的强劲需求让他和他的团队对希捷科技和西部数据的股票未来上涨前景充满信心。　　Daryanani认为，随着存储产品供应持续紧张，希捷的定价能力有望进一步提升。该公司还拥有“两年的技术领先优势，并且这一优势还在不断扩大”，其Mozaic 3+硬盘存储平台已通过认证，并在主要超大规模数据中心投入运营。　　他还补充道，与此同时，Mozaic 4+平台正在与全球两大云服务提供商合作，加速产能提升。他表示，后续的Mozaic 5+平台预计将于明年晚些时候开始出货，并接受客户的认证。　　Daryanani表示，推理和智能体人工智能带来的数据生成加速，将进一步提振西部数据的股价。他还对西部数据计划在研发投入后将所有自由现金流返还给股东表示赞赏。　　今年以来，西部数据公司的股票上涨了170%，而希捷公司的股票上涨了207%。网络供应商　　另一方面，在数据中心网络供应商中，Daryanani和他的团队提到了线缆连接器巨头安费诺（Amphenol）、美国云网络和交换机巨头Arista Networks和思科系统公司（Cisco Systems）。具体而言：　　安费诺：在他看来，人工智能的需求、安费诺在扩大收购规模方面的优势以及其多元化的终端市场，使其有能力在今年及以后“跑赢大盘”。　　此外，该公司在铜缆和光纤AI连接器领域处于领先地位。因此，Daryanani表示，对于那些在铜缆和光纤组件之间犹豫不决的客户而言，该公司是“首选的连接合作伙伴”。

二 | 　　而且，他还认为，安费诺不仅在人工智能领域，而且在其他领域也有机会受益，因为该公司还生产互连系统和天线解决方案，服务于国防和工业市场。　　Arista Networks：Daryanani表示，云客户群的多元化将对Arista Networks的发展起到推动作用，他预计该公司未来三到四年将实现“超高速增长”。他还指出，部分增长也可能得益于其面向企业的园区网络架构的上线。　　Daryanani还表示，网络领域的潜在市场总量应该会继续显著增长，而Arista Networks正在向规模化网络领域扩张，此时该领域对市场的影响也越来越大。

三 | 　　思科：Daryanani认为思科在2027财年（始于 7 月）有增长潜力，因为网络更新周期可能会带来“第二波增长”，超出其此前预测的75亿美元人工智能收入（该收入已得到现有订单的支持）。　　Daryanani还表示，思科的Silicon One可编程网络架构由于其从芯片到系统设计的全栈方法，对博通的解决方案具有“相当大的”竞争机会。

四 | 苹果公司　　最后，Daryanani和他的团队也对苹果公司的产品和功能路线图持乐观态度。他表示，iPhone的生命周期“依然具有吸引力”。

五 | 　　“被压抑的需求、iPhone 18 Pro的上市周期以及预计的折叠屏手机发布，应该会支撑需求和（平均售价），尤其是在基础款iPhone 18延迟发布的情况下。”他补充道。　　Daryanani表示，尽管一些投资者对苹果智能技术和人工智能驱动的Siri持怀疑态度，但这些功能的成功实施“可能会延长iPhone的生命周期，推动升级换代，并解锁新的盈利机会”。