Key to know

China Daily | Updated: 2012-08-27 08:03

The price war initiated by Chinese e-commerce companies:

10:00 am, Aug 14:

"Our prices are 10 percent lower than Suning Appliance and Gome," Liu Qiangdong, chief executive officer of Jingdong Mall, stated on his micro blog.

16:00 pm, Aug 14:

"All the prices of our products on Suning.com are definitely lower than Jingdong Mall," Li Bin, executive vice-president of Suning.com, said on his micro blog, responding to Jingdong's Liu.

17:00 pm, Aug 14:

Jingdong Mall's Liu stated: "We have nothing but money! Don't hesitate. Beat them to death!"

22:00 pm, Aug 14:

"If Jingdong offers a 1 yuan price (16 cents), we will make it 0.95 yuan," Gome Vice-President He Yangqing announced.

22:00 pm, Aug 14:

Li Bin, executive vice-president of Suning.com, said on his micro blog that his company is initiating a big discount campaign to mark the company's third anniversary.

9:00 am, Aug 15:

The cut-throat price war of China's major e-commerce companies started.

Source: etao.com

(China Daily 08/27/2012 page13)