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


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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 Economic Daily newspaper said 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 Economic Daily’s commentary said. China’s state planner, the National Development and Reform Commission (NDRC), on Friday issued a set...