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Chinese language Tech Giants, Underneath Strain From Regulation, Now Face Financial Drag

Chinese language Tech Giants, Underneath Strain From Regulation, Now Face Financial Drag

TAIPEI—China’s tech giants are feeling the pinch of an financial slowdown, including monetary strain to an trade beset by a bevy of latest rules this 12 months.

A few of China’s largest tech corporations have attributed weaker July-September income progress to deteriorating macroeconomic situations. Social-media and videogaming large Tencent Holdings Ltd. ’s quarterly gross sales grew at their slowest tempo for the reason that firm went public in 2004. On-line supply agency Meituan stated progress of meals supply orders decelerated. Search-engine firm Baidu Inc. reported a slowdown in promoting, whereas e-commerce large Alibaba Group Holding Ltd. reduce its progress forecast for the fiscal 12 months.

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