B[Report shows: The scale of online catering in the county market is growing rapidly] On November 2, the "2026 Online Catering Industry Observation" report recently released by the China Hotel Association and other units showed that China's online catering market as a whole shows a development pattern of "improving quality at the front line, expanding downwards and expanding", and the scale of online catering in third- and fourth-tier cities and county markets has achieved rapid growth. The report shows that the current growth of online catering in domestic first-tier cities has stabilized, and the growth momentum has gradually shifted from scale-driven to quality-driven; second-tier cities have maintained steady growth, with the dual attributes of scale expansion and efficiency improvement. At the same time, the markets in third- and fourth-tier cities and counties have rapidly expanded and become an important force in the growth of the online catering market. Take Taobao's flash sales as an example. In the past year, the platform's order growth in fourth-, fifth- and lower-tier cities has more than doubled that of first-tier cities. More than 250,000 new stores have entered the county market, and the consumption potential of the county market has been accelerated. B[Combining Leniency and Strictness to Optimize M&A Supervision, China’s First Platform Centralized Hearing Implemented] On October 10, the State Administration for Market Regulation recently held a public hearing on Meituan’s acquisition of the equity in Malt Field. This is the first public hearing in the field of concentration review in China. It is reported that the combined share of both parties in the delivery aggregation platform market exceeds 50%. Upon review, the concentration may restrict small and medium-sized merchants from independently selecting shipping capacity, crowd out third-party shipping capacity providers, and strengthen Meituan’s market control. To this end, the applicant submitted a conditional commitment plan. In order to ensure objectivity and fairness, the General Administration held hearings based on three considerations: First, it involves the interests of merchants, transport operators, riders and other parties, and opinions need to be fully listened to; second, the mechanism of damage to platform economic competition is complex and requires face-to-face cross-examination and debate; third, it is to explore public hearings and improve the level of legalization of law enforcement. The hearing was held on September 18, and invited representatives from Taobao flash sales, JD.com, flash sales, UU errands, industry associations, merchants and riders, experts and scholars to participate. All parties conducted cross-examination debates focusing on the enforceability of the commitment plan and the protection of rights and interests, and achieved the expected results. In the next step, the General Administration will adhere to equal emphasis on development and regulation, promote review in accordance with the law, protect the rights and interests of small and medium-sized merchants and riders, prevent "involution" competition, and continue to explore a public hearing mechanism. (CCTV Finance) B[All Chiba Jewelry online stores have been emptied, clerk responded] On September 11, the sponsoring brokerage Northeast Securities issued a risk warning announcement stating that it was unable to contact Lin Mingjie, the actual controller of Chiba Jewelry, and his wife Gao Xiaosong for unknown reasons. Chiba Jewelry’s official flagship stores on JD.com, Taobao, Xiaohongshu and other platforms have no products for sale. Among them, all products of Qianye Jewelry on JD.com and WeChat stores have been cleared. On September 11, a reporter called a number of Chiba Jewelry offline stores in Beijing as a consumer. The clerks all said that some Chiba Jewelry franchise stores are still operating normally. An employee of a Qianye jewelry franchise store in Haidian District, Beijing, said: "We are a franchise store and have our own boss. The brand selects several manufacturers, and the franchise store purchases goods directly from the manufacturers. Currently, it does not affect customers' consumption and purchase in the store." (China-Singapore Jingwei)
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