Core Viewpoint - JD.com is strategically expanding into the hotel and travel sector, leveraging its supply chain capabilities to enhance its overall business ecosystem, despite facing significant competition and challenges in the market [3][9][11]. Group 1: JD.com's Initiatives in Travel and Hospitality - JD.com CEO Liu Qiangdong personally promoted the company's travel services through live streaming events, showcasing culinary skills and engaging with customers [3][5]. - The launch of the "Treasure City" initiative aims to collaborate with local tourism boards and distribute 100,000 free tickets to 5A scenic spots during the National Day holiday [5][6]. - JD.com has introduced the "JD Hotel PLUS Membership Plan," offering up to three years of zero commission to attract hotel partners, indicating a strong commitment to the hotel sector [6][7]. Group 2: Organizational Changes and Strategy - The restructuring of JD's local life services division, now encompassing delivery, travel, and home services, aims to create a synergistic ecosystem that supports the growth of the travel business [7]. - JD.com is focusing on a "4+2" strategy to enhance hotel profitability, which includes integrating AI technology into food and accommodation services and tapping into the existing JD PLUS membership base [7][9]. Group 3: Market Challenges and Competitive Landscape - The online travel market is highly competitive, dominated by established players like Ctrip and Meituan, making it difficult for JD.com to gain market share [11][12]. - JD.com faces challenges in changing consumer booking habits, as the travel sector does not have the same frequency of use as food delivery, requiring a longer time to cultivate new customer behaviors [8][11]. - The company previously exited the travel market in 2020 after selling its stake in Tuniu, indicating past difficulties in establishing a foothold in this sector [9][11]. Group 4: Potential Advantages and Future Outlook - JD.com has a large active user base and a mature e-commerce ecosystem, which can be leveraged to drive traffic to its travel services [13]. - The integration of travel services with retail and financial products could create a comprehensive consumer experience, enhancing customer engagement [13]. - However, the success of JD.com's travel business will depend on its ability to translate its e-commerce advantages into improved customer experiences and hotel revenue [13].

去年以来，国家持续加码"反内卷"，但平台经济目前仍深陷"低价竞争"、"补贴大战"泥潭亟待破解。在 此背景下，数字经济新媒体&智库网经社发起——"破'卷'立新 重塑生态" 平台经济"反内卷"调查行动。 这也是我们继去年"仅退款"调查行动取得重大成果后，发起更为全面、深度的调查行动，通过多维度举 措推动平台经济健康发展。 保 易 朱秋城 中国交通运输协会使运分分公司 中国時境电商50人论坛特邀专家研究员 董 教習 席 凯 维 通东会融学公理事 重庆市有机农业 出协会秘书长 高校专家 i t 日在家 an Walland Home Brown Comment Comments of Comments o 姚建荣 面正财经大学 反教授 - : : : : : 面临 源江上南大学 级教授 40 日 沈阳工业大学副教授 t 方美五 大学文 西北政法大学園际法学院副教授 浙江外国语学院国际商学院副院长 划 俊斌 官 院 演 安徽財眾学院教授 原酒商职业技术学院公营学院副教授 对此，我们组织了高校教授、协会、智库专家、投资人、律师、分析师等，对平台经济"内卷式"竞争进 行深度解读，并发布了《2025年平台经济"反内卷"分析报 ...

Core Viewpoint - The platform economy is currently trapped in a cycle of "low-price competition" and "subsidy wars," necessitating a shift towards healthier development practices to avoid long-term negative impacts on profitability and sustainability [1][4]. Group 1: Negative Impacts of "Involution" - The ongoing "involution" in the platform economy, while providing short-term benefits to consumers, leads to reduced profit margins and risks to sustainable development for platforms [4]. - Involuntary participation in this competitive behavior can harm merchants' operations, potentially resulting in a decline in product quality, which contradicts market demands for value [4]. Group 2: Transitioning from "Traffic Involution" to "Value Creation" - Platform managers must recognize the risks of malicious competition and embrace social responsibility by enhancing service quality and protecting the interests of consumers and merchants [5]. - A shift away from low-price marketing strategies is essential, focusing on customer satisfaction and improving communication and service mechanisms in line with modern marketing principles [5]. Group 3: Balancing Government Regulation and Platform Autonomy - Government regulation is necessary to establish service norms and pricing guidelines, while platforms should operate autonomously within these frameworks [6]. - Continuous monitoring and correction of platform behaviors by the government are crucial to ensure compliance with relevant laws [6]. Group 4: Focus Areas for Investigation - The investigation will cover various sectors, including retail e-commerce platforms (e.g., JD.com, Taobao), local life services (e.g., Meituan), cross-border e-commerce (e.g., Amazon), ride-hailing services (e.g., Didi), and online travel platforms (e.g., Ctrip) [10][16].

Core Viewpoint - The Chinese government is intensifying its "anti-involution" policies to combat low-efficiency competition in the platform economy, aiming to shift from chaotic "traffic involution" to a new phase of healthy competition focused on efficiency and service [2][9]. Group 1: Policy Background - "Anti-involution" has become a key term in China's economic governance, with significant policy developments from July 2024 to March 2025, including the introduction of the revised Anti-Unfair Competition Law, which prohibits platforms from forcing merchants to sell below cost [2][3]. - The series of policies aims to curb malicious competition, protect stakeholders' rights, and drive the industry towards high-quality development [2][3]. Group 2: Industry Challenges - Various sectors, including live e-commerce, retail e-commerce, food delivery, ride-hailing, and online travel, are deeply entrenched in "involution" and face severe challenges due to ongoing low-price wars and subsidy battles [2][4]. - The food delivery industry exemplifies this issue, where platforms transfer costs to merchants through irrational subsidies and rising commissions, creating a vicious cycle [4][6]. Group 3: Investigation Actions - The "Breaking 'Involution' and Reshaping Ecology" investigation initiated by the China E-Commerce Research Center focuses on major platforms across retail e-commerce, local life services, cross-border e-commerce, ride-hailing, and online travel [9][20]. - The investigation will include real-time monitoring of "involution" issues, extensive research on platforms' responses to policies, expert analyses of industry pain points, and multi-channel dissemination of findings [20][22]. Group 4: Future Directions - The investigation aims to establish a new competitive dimension centered on "efficiency" and "service," moving beyond mere traffic and price competition to enhance supply chain optimization and technological empowerment [22]. - Regulatory measures and legal deterrents are necessary to address the current challenges, but a sustainable evaluation system focused on creating real social value is essential for long-term success [22].