PDD Holdings' move perhaps signals the Chinese tech giant's attempt to boost its international presence with U.S. shopping app Temu.
PDD Holdings, the parent firm of e-commerce sites Temu and Pinduoduo, moved its headquarters from China to Ireland.
The move to Ireland perhaps signals PDD's attempt to boost its international presence with U.S. shopping app Temu. Ireland is a popular location for foreign technology companies to set up shop due to its membership in the European Union and low headline corporation tax rate of 12.5%.PDD Holdings, the parent company of Temu and Pinduoduo, has moved its headquarters from China to Dublin, Ireland. The move underscores PDD's international expansion plans with Temu, its U.S. shopping app.
The U.S.-listed firm noted the Irish capital of Dublin as its "principal executive offices" in a recent filing with the Securities and Exchange Commission. It had previously listed Shanghai as its main office. Reuters first spotted the change. A representative for PDD was not immediately available for comment on the reason for the change when contacted by CNBC.
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