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.