09:00 AM EDT, 08/01/2025 (MT Newswires) -- Alibaba Group ( BABA ) , JD.com ( JD ) , and Meituan pledged on Friday to end price-based rivalry in China's $80 billion food delivery market, Bloomberg reported late Thursday, citing the companies.

The companies have been undercutting each other by offering a variety of discounts and subsidies, with government agencies stepping in to calm things down, the report said.

Alibaba's ( BABA ) Ele.me said it will protect merchant margins and avoid irrational promotions, while Meituan said it would not force businesses to take part in subsidies, Bloomberg reported.

Alibaba ( BABA ), JD, and Meituan did not immediately respond to MT Newswires' request for comment.

Shares of Alibaba ( BABA ) and JD.com ( JD ) were down 1.9% and 0.2%, respectively, in recent Friday premarket activity.

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