Zheng Quan Shi Bao·2026-01-09 17:41Core Viewpoint - The State Administration for Market Regulation has initiated an investigation into the competitive landscape of the food delivery platform service industry in China, aiming to address issues of irrational competition, such as price wars and excessive subsidies, which have negatively impacted the real economy and intensified "involution" within the industry [2] Group 1: Government Actions - The investigation is based on the Anti-Monopoly Law of the People's Republic of China and aims to promote lawful and fair competition within the food delivery platform service sector [2] - The investigation will involve on-site verification, face-to-face interviews, and surveys to gather insights from various stakeholders, including platform operators, new employment groups, and consumers [2] Group 2: Company Responses - Major food delivery platforms, including Meituan, Taobao Shanguo, and JD Delivery, have expressed their support for the investigation and committed to cooperating fully [3] - Meituan has called for a return to rational competition and has emphasized the importance of fulfilling market responsibilities to foster innovation and healthy development in the industry [3] - Taobao Shanguo has highlighted the significance of fair competition as a core principle of market economy and aims to provide diverse and high-quality services in collaboration with partners [3] - JD Delivery has voiced strong support for measures against "involution" and is focused on promoting high-quality development through supply chain innovations [3] Group 3: Industry Challenges - The intense competition among food delivery platforms has led to significant financial losses, with Meituan reporting a net loss of 16 billion yuan in Q3 2025, compared to a profit of 12.8 billion yuan in the same period last year [4] - Alibaba's net profit for the same period fell by 52% to 20.99 billion yuan, while JD's net profit decreased by 55% to 5.3 billion yuan [4] - The high subsidies offered by platforms have created a vicious cycle for the restaurant industry, leading to profit erosion and quality compromise, as businesses face high fixed costs and low demand elasticity [5] Group 4: Expert Insights - An expert has pointed out that the burden of high subsidies is often shifted to restaurants, creating a dilemma where businesses must either participate in subsidy programs or risk losing customer traffic [5] - The expert emphasized the need to scrutinize the mechanisms behind subsidy costs, questioning whether they are borne by the platforms or passed down to merchants through pricing algorithms [5]