Beijing urged to curb ‘free milk tea’-style cash burn in e-commerce battle

Instant retail has potential to boost domestic demand, but more government policy support needed to end excessive competition, central bank adviser says. — SCMP

With e-commerce platforms locked in fierce competition for China’s instant retail market, a prominent Chinese economist has called for government guidance that balances regulatory oversight with innovation and a push for new growth drivers.

Wang Yiming, a central bank adviser, said “quick commerce” – involving the rapid delivery of food and essential goods, often within 30 minutes – creates new opportunities for consumption, which could be vital for long-term growth.