U.S. media reports that from the financial report of several major Chinese technology giants in the fiscal season, the recovery of China's economy is half -mixed, and the economic growth activities for enterprises are accelerating, and consumer expenditures are still weak.
According to the Wall Street Journal, e -commerce giant Alibaba announced last Thursday (May 18) that the revenue of the previous fiscal quarter only increased by 2%compared with the same period of the previous year.After the crown disease, the weak trend of China's economic recovery.Alibaba's stock in New York closed down 5.4%on Thursday.
The main driving force of Alibaba's quarterly revenue growth comes from international e -commerce, local consumer services and logistics business.However, the domestic e -commerce business sales of Alibaba's main business decreased by 3%year -on -year.
Alibaba's competitors Jingdong Group's earlier information also showed that its first quarter revenue increased slightly year -on -year, saying that the quarterly retail business was affected by consumer confidence.The company said that the sales of large -scale commodities such as other consumer products and household appliances are weak.
It is reported that after the Chinese government canceled the large -scale control and other epidemic prevention and control measures in December last year, consumer expenditure began to recover, but the demand has not fully recovered to the level before the epidemic.
On the other hand, the game and social media giants Tencent and search engine company Baidu showed a significant upward momentum in the season. The two companies that highly relying on digital advertising business announced their revenue to achieve a double -digit percentage increase.
Tencent's first fiscal quarter sales set the fastest growth rate since the fiscal quarter, and the growth rate of online advertising revenue accelerated to 17%; Baidu said that its online marketing business has seen the overall recovery of China's economy.positive influence.After the four consecutive fiscal quarters declined last year, the company's online advertising revenue in the last quarter of the fiscal quarter resumed.
The Wall Street Journal reports that after the high -speed growth of the past ten years, the transformation of the industry in the Chinese technology giant in the industry has just begun.They are now facing a situation of tightening the regulatory environment, more intense competition, and weak economic recovery.
Reporting that in order to cope with the above situation, Chinese technology giants focus on cutting costs and streamlined business to improve profitability.
