Consumers lose out in price war

It hasn't taken consumers long to realize that the ongoing price-cutting competition by China's top e-retailers is just another gambit in the battle for supremacy.

Liu Qiangdong, president of top online retailer 360buy Jingdong Mall, at 360buy.com, announced on Tuesday through his micro blog that Jingdong will wage a price-cutting war against its rivals, most noticeably suning.com owned by domestic retail giant Suning Appliance Co Ltd, and gome.com.cn of Gome Electrical Appliances Holding Limited.

Liu said on his micro blog that Jingdong Mall, often dubbed China's amazon.com, will always price its online products 10 percent lower than the same products sold in the online shops of Suning and Gome.