ByteDance primes short video app Douyin to challenge Meituan in on-demand local services amid China’s push to revive economy

  • Douyin, the Chinese version of TikTok, has been making aggressive moves in food delivery and other segments of on-demand e-commerce in the country
  • This sector is expected to be worth more than US$5.17 trillion by 2025, according to market research firm iResearch

Ben Jiangin Beijing
ByteDance-owned Douyin, the Chinese version of TikTok, is taking on Meituan in various segments of China’s vast on-demand local services sector. Photos: Shutterstock
When Meituan founder and chief executive Wang Xing was asked last November about the rapid rise of competition in China’s on-demand local services sector, he suggested that the company was way ahead of any would-be rival.
“We can better meet users’ demand … and merchants’ needs,” Wang said in a conference call with analysts after Beijing-based Meituan reported a 1.2 billion yuan (US$179 million) net profit in the three months to September, ending seven consecutive quarters of losses.
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