Meituan Cuts Jobs After Costly Price War, Pivots to AI
Meituan lays off nearly 2,000 employees after a year-long instant-retail price war burned RMB 150 billion. The company now pivots aggressively toward AI.
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Meituan lays off nearly 2,000 employees after a year-long instant-retail price war burned RMB 150 billion. The company now pivots aggressively toward AI.
China's market regulator proposes new rules to rein in excessive food delivery subsidies, targeting 'involution-style' competition distorting the market.
China's market regulator proposes new rules to rein in food delivery platform subsidy wars that have distorted competition and hurt small businesses.
China's sweeping new food delivery regulations take effect June 1, targeting ghost kitchens, mandating AI oversight, and imposing fines up to 200,000 yuan.
China's new food delivery rules took effect June 1, targeting ghost kitchens with transparency mandates, tamper-evident packaging, and real-name checks.
China's market regulator launches an eight-month crackdown on 'involution-style' competition in live streaming and food delivery.