Chinese shopping site Temu, which is facing mounting hostility toward Chinese companies from U.S. politicians, is looking to reduce its reliance on the U.S. market, reported The Information’s Jing Yang. The U.S. accounted for 60% of total merchandise sales on Temu last year, but the unit of China’s PDD Holdings is now hoping to reduce that percentage to as low as 30% by next year, two people briefed by company executives told Yang. The site is expanding in markets including Europe, the Middle East, Japan and South Korea and telling its merchants to prioritize stocking up on products that are popular in those regions, the sources said.
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