By Tracy Qu
Chinese bargain shopping platform Pinduoduo, owned by PDD Holdings, will invest more than $13 billion over the next three years to support merchants.
Pinduoduo plans to allocate over 100 billion yuan, equivalent to $13.76 billion, in capital, traffic and other resources to strengthen its e-commerce ecosystem and support merchants, the company said in a statement.
PDD, which also owns Temu, reported slower quarterly profit and revenue growth in the fourth quarter, capping a turbulent year for the e-commerce giant as it faced intense domestic competition, geopolitical tensions abroad and higher U.S. tariffs.
The company in recent months has also faced criticism and pushback from merchants over profit squeezes.
Last year, a group of Chinese merchants supplying Temu stormed a company affiliate's office in Guangzhou, southern China, protesting what they claimed were unfair penalties that left some bankrupt.
Chinese e-commerce companies have been ramping up efforts to support merchants. Tmall, operated by Alibaba Group Holding, announced last month that it is committing "unprecedented strategic resources" to support brands in 2025.
Write to Tracy Qu at tracy.qu@wsj.com
(END) Dow Jones Newswires
April 03, 2025 05:31 ET (09:31 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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