Caixin
Jan 21, 2019 06:12 AM
BUSINESS & TECH

In-Depth: A Winter Storm Looms for China’s Tech Sector

Chinese tech firms are feeling the chill after years of white-hot expansion. Photo: VCG
Chinese tech firms are feeling the chill after years of white-hot expansion. Photo: VCG

China’s technology companies have been feeling the chill as winter falls — and the freeze may last longer than usual.

Bad news has piled up since the second half of 2018 as tech companies are rattled by dwindling capital, volatile markets and tightening regulations. E-commerce giant JD.com reported its slowest quarterly revenue growth since 2014 and first-ever decline in new users in the third quarter. Larger rival Alibaba Group was better off but lowered its full-year guidance.

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