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Market over-reacted to proposed lowering of fees for Chinese food delivery platforms – state media

Randy Mancini 5 Feb 22
FILE PHOTO: A man stands on an overpass with an electronic board showing Shanghai and Shenzhen stock indexes in Shanghai
FILE PHOTO: A man stands on an overpass with an electronic board showing Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China January 6, 2021. REUTERS/Aly Song

February 23, 2022

BEIJING (Reuters) – China’s state-run newspaper Economic Daily said in a commentary on Wednesday the market had over-reacted to the government’s guidance that food delivery platforms should lower service fees.

The policy was not intended to target the platform economy as the government recognises its crucial role in the economy, the commentary said.

(Reporting by Yingzhi Yang and Brenda Goh; Editing by Jacqueline Wong)