Chinese ecommerce giants make expensive bets on fast deliveries

The new turf war focused on speed is coming at a high cost in the short term as the ecommerce giants look to entice consumers with hefty discounts. JD.com's JD Takeaway and Alibaba's food delivery app Ele.me last month each pledged 10 billion yuan ($1.38 billion) in subsidies. JD Takeaway said it would invest the sum over a year, while Ele. me did not disclose the timeframe.