China Tech Giants' Pivot: Retreats from Metaverse, Autonomous Driving, Chip Development, and Beyond

Reflecting on 2023, a key theme for the Chinese technology industry has been strategic retreats from various once-popular sectors, with a sharp focus on financial performance. Amid challenging macroeconomic conditions and heightened competition in an already saturated market, tech giants like Tencent, ByteDance, Alibaba, and Baidu have shifted from an “expansion-first” approach to prioritizing “survival.” [...] China Tech Giants' Pivot: Retreats from Metaverse, Autonomous Driving, Chip Development, and Beyond comes from China Money Network: Primary Data for China’s Primary Markets! All Rights Reserved.