Who PDD Holdings buys from and sells to
Runs Pinduoduo in China and Temu abroad, marketplaces selling Chinese-made goods at low prices.
Buys from 4
- Chinese manufacturers and merchantsthe goods listed on Temu and Pinduoduo
- MetaMETAapp-install and shopping ads for Temu
- AlphabetGOOGLsearch and shopping ads for Temu
- Air and ocean freight carrierscross-border shipping of Temu orders
Sells to 2
- Pinduoduo merchantsad spend and commissions
- Temu shoppers in the US and EUlow-price goods shipped from China and local warehouses
Where the chain could break
- The US ended duty-free de minimis for Chinese parcels in 2025; the EU is moving the same way
- Temu growth depends on ad buying from Meta and Google
- Supply is overwhelmingly Chinese-made, exposed to tariffs on China
Competes with
- AlibabaBABAChina e-commerce
- AmazonAMZNUS and EU shoppers, including Amazon Haul
- Sheincross-border low-price retail
- JD.comJDChina e-commerce
Mapped by hand from filings and company reporting, as of October 2026. It shows the relationships that matter most, not every contract: most are never disclosed, and agreements change.