URL has been copied successfully!
Alibaba Group Holding Ltd (NYSE:BABA) shares jumped Wednesday following reports that China’s intense food-delivery price wars are concluding. State media has signaled a regulatory shift toward industry stability.
Regulatory Endorsement Ends Vicious Cycle
State media Economic Daily published an opinion piece Wednesday calling for an end to price competition. The State Administration for Market Regulation later reposted the article. This move suggests official regulator endorsement.
The report stated, according to Reuters, “The entire industry has fallen into a vicious cycle of losing money in an attempt to grab market share, ultimately dragging down the broader trend of consumption recovery.”
The news sparked a broad rally among Chinese tech …
Please follow us:
This post was originally published here
