China’s top antitrust regulator launched a probe over competition practices in the food-delivery sector, boosting share prices of key players amid efforts to curb subsidy-driven price wars.
Meituan (MPNGF) and Alibaba (BABA) stock rose ~6% on the Hong Kong index in response to hopes of discounting. JD.com traded ~2% higher. The new guidelines, effective February 2026, warn against pressuring merchants into discounts and other measures accused of disrupting market order.
The State Administration for Market Regulation urged the major players to reduce irrational competition and balance interests among consumers and merchants.
The move aims to stabilize the market and ensure sustainable practices amidst rising promotions and discounts that threaten profit margins and disrupt competition.