Chinese state newspaper strikes rare friendly tone towards internet giants
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's instant-commerce platform, seen on the Taobao app. Photo: Simon Song
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.
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