A leading Chinese state media outlet has expressed support for the nation’s internet platform operators, emphasising their importance alongside hard-tech companies like chip manufacturers, as it adopts a positive tone that reflects Beijing’s friendly stance towards e-commerce companies.
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According to the editorial published by the Economic Daily on Wednesday, food delivery and “hard-tech” breakthroughs – such as advances in high-speed trains and aerospace technologies – represented two key aspects of Chinese innovation.
“China needs breakthroughs in ‘stranglehold technologies’ just as much as it needs innovations that improve daily life and boost employment,” the article said. “We need both.”
“Stranglehold technologies” refer to critical technologies or equipment that China needs to import, owing to its inability to produce them locally in sufficient quality or quantity. This category includes lithography machines for advanced chip production, computer operating systems, aircraft engine nacelles, and industrial design software.
The article was published amid intense competition among e-commerce behemoths Alibaba Group Holding, JD.com and Meituan in the food delivery sector, as companies offered massive subsidies to entice users.
Alibaba, owner of the South China Morning Post, reportedly plans to launch a “Super Saturdays” programme over the next 100 days to attract consumers with discounts, intensifying a price war against Meituan and JD.com.