Alibaba, Meituan, JD.com commit to truce after regulator calls for ‘rational’ competition
The intensified competition was exemplified last month when they offered incentives such as free cups of milk tea and free lunchboxes.

China’s top three on-demand delivery service operators – Alibaba Group Holding, Meituan and JD.com – have publicly announced an “anti-involution” commitment, signalling a truce in their brutal price war.
Alibaba’s Hong Kong-listed shares gained 1 per cent on Friday while Meituan gained 0.5 per cent, despite a broad decline in the Hang Seng stock index. JD.com was down 0.2 per cent

The meeting aimed to “further regulate promotional behaviour, encourage rational competition, and foster a healthy ecosystem and a win-win situation for consumers, merchants, delivery riders, and platform operators”, the regulator said.