China's Crackdown Forces Alibaba, JD, And Meituan To Call Truce On Price War
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Alibaba, JD.com, and Meituan have agreed to end their aggressive price competition in the food delivery sector, following regulatory pressure from China's State Administration for Market Regulation. The companies pledged to promote fair business practices and avoid irrational promotions that have hurt profit margins. Analysts suggest that while the rivalry will continue, it will be in a more controlled manner. Alibaba's stock has seen a significant decline, losing $100 billion in market value since March, while JD.com and Meituan also face challenges in the competitive landscape.
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Source: Benzinga The copyright of this article belongs to the original author/organization.
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