Core Viewpoint - The Chinese food delivery industry has reached a historic turning point as major platforms like Meituan, Taobao Shanguo (in collaboration with Ele.me), and JD.com jointly announced a commitment to regulate promotional activities and resist malicious competition, marking the end of the prolonged "delivery subsidy war" [1][3][8] Summary by Sections Price War Overview - The price war began in February 2025 when JD.com entered the food delivery market with a "100 billion subsidy + five insurances and one fund for riders" strategy, disrupting the duopoly of Meituan and Ele.me [1] - By July 2025, Meituan launched a "0 yuan purchase" campaign, leading to a surge in orders, with over 1.2 billion instant retail orders on the same day [1][2] Impact of Subsidy War - The subsidy war resulted in a significant increase in order volume, from an average of 100 million orders per day at the beginning of the year to approximately 250 million orders per day by mid-July [2] - However, this led to a dilemma for merchants, who faced increased orders but declining profits, and riders who experienced heightened workloads and potential burnout [2][5] Regulatory Intervention - In May 2025, the State Administration for Market Regulation (SAMR) began addressing the issue by urging platforms to avoid distorting competition through subsidies [4] - By July 18, SAMR reiterated the need for platforms to comply with various laws and regulations, promoting a healthy ecosystem for consumers, merchants, riders, and platforms [4] Industry Reflection and Future Direction - The joint statement from major platforms reflects a response to the chaotic subsidy situation and regulatory pressure, aiming to shift competition from price wars to quality and service [3][6] - Analysts suggest that the industry must move beyond reliance on subsidies to focus on efficiency and customer experience [6][8] Challenges Ahead - Despite the commitment to regulate promotional activities, challenges remain, such as unclear cost boundaries and the potential for platforms to circumvent regulations through cross-subsidization [7] - The SAMR has introduced guidelines to further regulate platform fees and encourage innovation, aiming for a sustainable business model that balances cost reduction and service enhancement [7] Conclusion - The end of the subsidy war signifies a shift towards rational competition, where success will depend on balancing user experience, rider protection, and merchant profitability, paving the way for a healthier growth trajectory in the food delivery market [8]

美团、京东、饿了么称将抵制恶性竞争 规范促销行为 持续一段时间的"外卖大战"熄火。8月1日，美团、京东、淘宝闪购、饿了么先后发布声明表示，坚决抵 制恶性竞争，坚决规范促销行为，杜绝不正当竞争行为，推动建立公平有序行业秩序，促进各方互利共 赢。 美团： 构建多方共赢的良好生态 当日，美团发布题为《繁荣行业生态，抵制无序竞争》的文章，文中承诺从自身做起，并积极呼吁行业 共同构建良好生态，促进餐饮服务行业规范健康持续发展。平台承诺，一是补贴活动严格遵守反垄断 法、反不正当竞争法、电子商务法、价格法、反食品浪费法等法律法规，不以显著低于成本的价格销售 商品和服务，以免严重扭曲价格信号，扰乱市场竞争秩序，造成浪费。二是开展补贴活动时，依法向商 家和消费者公示补贴信息，不对补贴总额进行夸大宣传。三是不强制或变相强制商家参加补贴活动，切 实保障商家自主定价权。四是对商家和消费者遵循无歧视原则，确保促销补贴活动的公平性，不通过选 择性补贴伤害中小商户利益。五是积极构建消费者、商家、外卖骑手和平台企业等多方共赢的良好生 态。 京东： 搭建简单透明的补贴机制 京东发布《践行主体责任和社会责任 共建外卖行业健康生态》一文。文中表示 ...

Core Viewpoint - Major Chinese e-commerce platforms, including Meituan, JD.com, Taobao Flash Sale, and Ele.me, have collectively announced their commitment to resist malicious competition and promote fair industry practices, aiming for a healthy and sustainable development of the food delivery sector [1][2][3]. Group 1: Company Commitments - Meituan has pledged to adhere strictly to various laws, including the Anti-Monopoly Law and the Anti-Unfair Competition Law, ensuring that subsidy activities do not distort market prices or harm small merchants [1]. - JD.com emphasizes the importance of a transparent subsidy mechanism and aims to eliminate harmful practices like "0 yuan purchase" promotions, focusing instead on quality and service differentiation [2]. - Taobao Flash Sale and Ele.me have committed to rationally planning subsidies based on consumer and merchant needs, ensuring merchants' rights to participate and set prices are respected [3]. Group 2: Industry Trends - The industry is moving away from capital-intensive competition towards a model driven by technology and supply chain optimization, with a focus on enhancing consumer experience and merchant profitability [4][5]. - Regulatory frameworks are expected to evolve, balancing consumer rights, merchant profits, and rider welfare, promoting a sustainable ecosystem [4][5]. Group 3: Regulatory Context - The State Administration for Market Regulation has urged major platforms to comply with relevant laws and to rationally engage in competition, fostering a win-win ecosystem for consumers, merchants, and delivery riders [5].