Alibaba, Meituan and JD Vow End to Food Delivery Price War

The three major Chinese tech giants, Alibaba, Meituan, and JD.com, have pledged to end the intense price war in the food delivery industry. This price-based competition has threatened to undermine their profit margins and has drawn the attention of government regulators. The companies have vowed to work together to foster "rational and orderly competition" in the sector, a move that aims to stabilize the industry and address the concerns raised by government agencies. The price war has been a key factor in the rapid growth of the food delivery market in China, but it has also put pressure on the companies' financial performance. By agreeing to curb this "disorderly competition," the tech giants are signaling a shift towards a more sustainable and collaborative approach in the industry. This move is likely to have implications for both consumers and the companies themselves, as they seek to find a balance between growth and profitability.