Alibaba Group Holding Ltd Inc's (NYSE:BABA) Taobao and JD.com Inc (NASDAQ: JD), China's e-commerce giants, are escalating competition in the sector by adopting a "refund only" policy for dissatisfied customers, mirroring a strategy implemented by budget online retailer Pinduoduo (NASDAQ:PDD) since 2021. Taobao recently added a similar approach to address misleading product information and fraudulent goods, SCMP reports. This move comes after JD.com updated its platform rules on Wednesday, with the new refund policy becoming effective on December 29. The policy applies to goods that customers believe do not match the site's product