HONG KONG -- Alibaba Chairman and CEO Daniel Zhang said Thursday that the low-price strategies pursued by some online retaliers are not sustainable, as rival JD.com is set to spend billions of yuan on a subsidy program for merchants in a price war with Pinduoduo.
"We haven't been a low-price competitor," Zhang said in a conference call after the Chinese e-commerce group reported its first quarterly profit growth since 2020. "We haven't been relying on heavy subsidies. We haven't been engaged in low-level competition."
