Morningstar

China's Food-Delivery Companies Rally After Regulator Signals Renewed Push to Curb Price War

Provided by Dow Jones

By Tracy Qu 




  Shares of China's food-delivery companies rallied after Chinese authorities signaled a push to address intense price competition in the sector. 



  Meituan shares closed 14% higher on Wednesday, while Alibaba and JD.com shares gained 4.6% and 4.85%, respectively. That outperformed the Hang Seng Tech Index's 1.9% gain. 



  The State Administration for Market Regulation, China's top market regulator, said in an article on its official website Wednesday morning that it held a seminar to curb unfair competition, without naming the food-delivery industry. Around the same time, the regulator published a column by the state-owned Economic Daily newspaper on its website, urging food-delivery companies to end the price war. 



  The regulator's statement could mark "a pivotal sign of normalization in food delivery competition, with a decent scale-back of subsidies in the coming months," Citi analysts said in a note. 



  Citi analysts said the regulator's stance is positive for Meituan as easing competitive pressures should accelerate its recovery pace. Meanwhile, Alibaba and JD.com will also benefit from a rational competitive landscape, the analysts said. 





  Write to Tracy Qu at tracy.qu@wsj.com 





  (END) Dow Jones Newswires



  March 25, 2026 04:51 ET (08:51 GMT)


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