March 28, 2024
Investment

China’s Big Tech firms from Tencent to Alibaba cut external investments further in 2023 amid troubled economy

China’s internet giants from Alibaba Group Holding to Tencent Holdings slashed external investments last year amid an economic slowdown, regulatory headwinds and geopolitical tensions, according to data compiled by a Chinese consultancy. Total investment deals made by Alibaba, Tencent and Baidu plunged by nearly 40 per cent to 102 in 2023, with Tencent – known

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