Chinese tech giants post worst growth on record due to zero Covid Scoop Nova


Source: scoopnova.com scoopnova.com

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Chinese tech giants, including Alibaba, are seeing slow or no growth as the Chinese economy faces a weakening as a result of the Chinese government's zero-corona policy. Shen Qilai | Bloomberg | Bloomberg | Getty Images China's tech giants are looking to emerge from their worst quarter of growth in history as a sharp slowdown hits them, fueled by Beijing's tough Covid policies in the world's second-largest economy. In the second quarter of this year, e-commerce companies Alibaba Posted First-ever flat quarterly revenue growth year-over-year and social media and gaming companies Tencent reported Sales decrease for the first time in...