Meituan, Alibaba Shares Jump as Beijing Vows to End Price Wars

A Meituan courier in Shanghai.
Photographer: Qilai Shen/Bloomberg

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By Jeanny Yu

March 25, 2026 at 7:12 AM UTC

Updated on

March 25, 2026 at 9:21 AM UTC

Shares of China’s food-delivery firms surged as the authorities stepped up efforts to end the intense competition in the sector that has driven down profits.

Meituan shares surged 14% in Hong Kong, marking its best day since October 2024. Its rivals Alibaba Group Holding Ltd. and JD.com Inc. climbed 4.6% and 4.9%, respectively.