Meituan Shares Surge 5% After Beijing Clamps Down on Price War in Food Delivery
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Shares of Meituan surged 5% to HK$133.70 following Beijing's intervention to curb the intense price war in China's food delivery sector. The State Administration for Market Regulation (SAMR) urged major players, including JD.com and Alibaba, to reduce irrational competition and balance interests among consumers, merchants, and delivery riders. This regulatory push aims to stabilize the market and ensure sustainable practices amidst rising promotions and discounts that threaten profit margins.
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