PDD embraces China’s ‘city of the future’ after bruising regulatory clash and record fine

PDD Holdings, operator of Temu and Pinduoduo, is expanding its operations in China's Xiongan New Area, dubbed a 'city of the future,' despite facing a record food-safety penalty and accusations of obstructing enforcement by regulators. The company had over 600 employees in the area by June, making it the largest privately owned internet unit there.