JD.com (JD) is entering China's food delivery market with its JD Takeaway platform, Reuters reported Tuesday, citing a Weixin post by the company.
The company reportedly said on Weixin that merchants who register before May 1 will enjoy zero commissions for a full year. JD Takeaway aims to offer complete support to merchants and boost the sustainable growth of the food delivery sector, the report said.
The move pits JD.com against leading rivals Meituan and Alibaba's (BABA) Eleme, according to Reuters.
JD.com did not immediately respond to a request for comment from MT Newswires.
Shares of the company were down about 3.2% in recent trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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