On August 25, Hong Kong's three major internet platform stocks rose collectively. Among them, Alibaba surged as much as 6.78% to HK$126 during trading, reaching its highest level since May 15, and is currently up 5.34%. JD.com gained 4.2%, while Meituan rose 2.79%.
On the news front, the National Development and Reform Commission, State Administration for Market Regulation, and Cyberspace Administration of China jointly drafted the "Internet Platform Pricing Behavior Rules (Draft for Comments)" and opened it for public consultation last Saturday (23rd). The draft focuses on big data pricing, price subsidies, and pricing integrity, legally regulating the pricing behaviors of platform operators and merchants within platforms. The public consultation period for these behavioral rules is one month, with a necessary adaptation and adjustment period based on actual circumstances. State media indicated that the document does not ban subsidies, but only requires platforms to disclose subsidy and promotional activity rules, and prohibits false advertising and exaggerated subsidy amount claims.
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