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

Dow Jones03-25 16:36

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 04:36 ET (08:36 GMT)

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That outperformed the Hang Seng Tech Index's 1.9% gain. \n\n\n  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. \n\n\n  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. \n\n\n  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. \n\n\n \n\n\n  Write to Tracy Qu at tracy.qu@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 25, 2026 04:36 ET (08:36 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.38.0","shortVersion":"4.38.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2622102527","isCrawlerRequest":true}