Zheng Quan Shi Bao·2025-08-18 00:44Core Viewpoint - The major food delivery platforms in China, including Meituan, Ele.me, and JD, have announced a cessation of "involutionary" competition and high subsidies, aiming to maintain a healthy industry ecosystem. However, some platforms continue to offer significant subsidies, leading to concerns about the long-term impact on the food delivery and restaurant industry [1][2][4]. Group 1: Industry Dynamics - Following the announcement to stop irrational high subsidies, food delivery orders have significantly decreased, with delivery personnel reporting a drop in daily earnings from around 700-800 yuan to about 400 yuan [2][4]. - Despite the reduction in subsidies, there remains a significant price imbalance between online and offline dining, with some meals priced at 20 yuan in-store being available for as low as 7-8 yuan online [2][3]. Group 2: Subsidy Mechanisms - Some platforms have left room for future high subsidies, indicating a potential for continued low-price promotions under certain conditions, despite the public commitment to avoid large-scale irrational promotions [3][4]. - The burden of subsidy costs is often shifted to small and medium-sized businesses, which face pressure to participate in promotional activities that ultimately reduce their profit margins [4][5]. Group 3: Regulatory Considerations - The ongoing price war has altered consumer perceptions, leading them to believe that extremely low prices are the norm, which is unsustainable for businesses in the long run [6][7]. - Regulatory measures are suggested to address the opacity of algorithms and the ambiguity of responsibility in subsidy distribution, including the establishment of a subsidy tracing mechanism and the implementation of algorithm transparency regulations [6][7].