Temu ties Amazon in global market share

Temu, owned by PDD Holdings, has matched Amazon’s 24% share of the global cross-border e-commerce market, up from under 1% in 2022, according to the International Post Corporation. The platform’s meteoric rise comes amid a record Chinese trade surplus and evolving import rules. Rivals Shein and AliExpress trailed with 9% and 8% shares, respectively.