TAIPEI — China’s tech giant is feeling a pinch of economic slowdown, putting financial pressure on an industry plagued by this year’s new regulatory swarm.
Some of China’s largest tech companies believe that the decline in revenue growth from July to September is due to worsening macroeconomic conditions. Social media and video game giant Tencent Holdings Ltd.Quarterly sales Grow at the slowest pace Since the company was released in 2004. Online shipping company Meituan said growth in food delivery orders slowed. Search engine company Baidu Inc. Reported a slowdown in advertising, e-commerce giant Alibaba Group Holding Ltd. Reduce growth forecasts fiscal year.
China’s tech giants under regulatory pressure are now facing economic resistance
Source link China’s tech giants under regulatory pressure are now facing economic resistance