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.