HONG KONG — China’s food delivery war rages on as the three big platforms, Alibaba Group, Meituan and JD.com, vie to become the ultimate gateway for consumer spending in Asia’s largest economy.
The battle ignited by JD heated up further over the weekend, with platforms announcing that both orders and users had reached record highs on the back of heavy subsidies. The frenzy came after reports that some users had received free bubble tea and coffee over the previous two weekends, leading to a surge in shares of Hong Kong-listed Chinese bubble tea brands last week.
