China to investigate competition among food delivery platforms

China's central government will investigate market competition among food delivery platforms, the market regulator said. The regulator cited excessive subsidies and price wars as issues that have squeezed the real economy and intensified competitive pressures.

China's central government has launched an investigation into competition among food delivery platforms, the market regulator announced. The review will evaluate market competition and related practices. The regulator said some practices, including excessive subsidies and price wars, have squeezed the real economy and intensified competitive pressures. The State Council aims to assess conditions to promote a market with high quality, reasonable pricing and healthy competition. Key points: - The central government will investigate and evaluate market competition among food delivery platforms, according to the market regulator. - The regulator identified excessive subsidies and price wars as problems that have squeezed the real economy. - The regulator said these practices have intensified competitive pressures in the sector. - The State Council's investigation and assessment are described as aiming to establish a market environment with high quality, reasonable pricing and healthy competition. Summary: The review is intended to address pricing and subsidy practices and to inform how the sector operates going forward. Undetermined at this time.