Major marketplace Binance and digital fashion and accessories giant Shein are reluctant to call themselves Chinese companies, and the reason for this is obvious. They are specifically targeted at the United States, which is considered to be closely linked to Beijing and therefore dangerous, according to a related article by the US news network CNN. “When you talk about corporate entities that are thought to be linked to China in one way or another, it opens up a big bag,” said Ben Cavender, managing director of China Market Research Group, a strategic consulting group based in Shanghai. “The US government has an almost automatic reflex that these companies are potentially dangerous due to the fact that they can share data with the Chinese government or act maliciously,” he added. The first target was phone giant Huawei, but now TikTok is facing fierce controversy from members of Congress over its Chinese ownership and data security concerns.

In the case of the Binance digital currency exchange, it does not want to be called Chinese, although it was founded in 2017 in Shanghai. After a few months, he left because the competent regulators launched a big campaign against a particular sector. Its managing director, Changpeng Zhao, says that his management team now consists mainly of Europeans and Americans. It is an unregistered consumer-focused company that has kept its distance from its origins despite its success and global dominance in the cryptocurrency space. Fast growing in both Europe and the US, Temu is positioning itself as an American conglomerate owned by a multinational corporation. It is based in Boston, and parent company PDD considers Dublin to be its headquarters, although this was not the case from the start. Until recently, it was located in Shanghai under the name Pinduoduo, which is also the name of a very popular e-commerce platform in China. In recent months, she has changed her name and moved, without explanation, to the capital of Ireland, 6,000 miles away.

Digital fashion and accessories giant Shein has moved to Singapore.

As for Shein, a well-known platform with millions of clothes, accessories and many items at very low prices, it has moved to Singapore. The group is believed to have shaken up the fast fashion industry and are looking to increase their presence in the US, according to CNN in a related article.

Moreover, sales there are accelerating, according to the American newspaper The Wall Street Journal, while the stronger the influence of Chinese companies, the more intense the investigation of their actions. In 2021, as Shane became better known in America, she made no mention of her origins and identified herself as an international company. Experts say working with groups like TikTok, owned by the Beijing-based ByteDance Group, provides a useful lesson in how they will handle the global market.