China's Market Regulator Targets Food Delivery Subsidies

China's market regulator has called upon major food delivery platforms to manage their subsidy strategies more responsibly. State television CCTV reported the regulator's concerns without naming specific platforms. This move highlights China's ongoing efforts to stabilize and oversee its burgeoning online delivery market.

In a significant move, China's market regulator is taking a stand against excessive subsidies in the food delivery sector. It has summoned leading companies, urging them to maintain reasonable control over their pricing strategies.

The initiative was reported by state television CCTV, although the report did not specify which platforms were involved. This underscores the growing importance of regulatory oversight in China's rapidly expanding online delivery market.

This action reflects China's commitment to fostering a stable competitive environment amid the flourishing business of food delivery services.

(With inputs from agencies.)