03:06 PM EDT, 03/19/2024 (MT Newswires) -- PDD Holdings' ( PDD ) online marketplace Temu is seeking to reduce its reliance on the US market as local politicians become increasingly hostile toward Chinese companies, The Information reported Tuesday, citing two people briefed by company executives.

Temu is hoping to reduce the share of the US market in total merchandise sales to as low as 30% by next year from 60% last year while expanding elsewhere, including Europe, the Middle East, Japan and South Korea, the report said.

PDD did not immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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