China’s top three on-demand delivery service operators – Alibaba Group Holding, Meituan and JD.com – have publicly announced an “anti-involution” commitment, signalling a truce in their brutal price war. On Friday, the three companies vowed to engage in “rational” competition and resist offering excessive subsidies, according to separate statements published two weeks after China’s market regulator urged them to stop engaging in excessive competition, known locally as “involution”. Alibaba,...