JD(US:JD) Zhong Guo Jing Ji Wang·2026-01-13 23:42Core Viewpoint - The State Council's Antitrust and Anti-Unfair Competition Committee has announced an investigation into the competitive landscape of the food delivery platform service industry, focusing on issues such as excessive subsidies, price wars, and traffic control that harm the real economy and exacerbate "involutionary" competition [1] Group 1: Regulatory Context - The investigation targets not competition itself but rather the unhealthy competition driven by subsidies, pricing, and traffic manipulation [1] - High delivery subsidies have led to consumers preferring to order food at home, negatively impacting overall consumption and the vitality of physical stores and shopping malls [1] Group 2: Company Responses - Meituan expressed "strong support" for the investigation, positioning itself as a victim of the "food delivery war" and advocating for the cessation of irrational competition [2] - JD's food delivery service stated it "firmly supports" the investigation while highlighting its strengths in supply chain innovation and rider rights, indicating a shift towards a more neutral stance [2] - Taobao Flash Delivery emphasized "maintaining fair and orderly competition," indicating its intent to continue aggressive competition while complying with regulations [2] Group 3: Market Dynamics - The competition among platforms is not just about food delivery but encompasses the broader instant retail market, including delivery of various consumer goods [3] - Consumer behavior is shifting towards a preference for home delivery, which is driving platforms to compete for instant demand, making it a critical survival issue [3] - The investigation aims to "regulate" rather than "kill" competition, with companies indicating a shift in focus towards long-term capabilities such as supply chain efficiency and digital empowerment for merchants [3]