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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 stress to an trade beset by a bevy of recent laws this yr.

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

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