China moves to end ‘irrational’ food-delivery subsidies and the sector’s price wars

Chinese authorities introduced draft regulations on Wednesday to crack down on the misuse of subsidies by food-delivery platforms, as Beijing seeks to rein in the sector’s intense competition. The proposed rules, open for public comment until July 17, identify several practices that would be banned, including using subsidies to disrupt the market and selling goods at a loss, according to a statement from the State Administration for Market Regulation (SAMR). “China’s food-delivery platforms...