Investing.com-- Shares of JD.com (HK:9618) and Meituan (HK:3690) declined on Tuesday following JD.com’s allegations of anti-competitive behavior in China’s food delivery sector.
JD.com claimed that rival platforms are pressuring couriers to avoid working with its new food delivery service, JD Takeaway. Launched in February, JD Takeaway offers zero commissions to restaurants for a year and provides full-time couriers with direct labor contracts and comprehensive insurance benefits.
"Recently, a competing platform has once again played the ’choose one of two’ game, forcing riders not to accept JD.com’s second-delivery orders. If they violate the rules, they will be banned," the company said in a post on its official Weixin account.
JD.com did not name any rival platform.
In response, Meituan denied any wrongdoing, stating that disciplinary action was taken against a driver who falsely claimed he was banned for working with other services.
Hong Kong-listed shares of JD.com declined 6.8% to HK$129.80 as of 02:54 GMT.
Meituan shares slumped 7% to HK$127.10 on Tuesday.
The allegations come amid increased regulatory scrutiny of China’s food delivery industry, with authorities extending Meituan’s antitrust "rectification period" due to concerns over its market practices.