News Snapshot:
Growth in advertising revenue at China’s three biggest technology companies – Alibaba Group Holding, Tencent Holdings, and ByteDance – slowed in 2021 amid Beijing’s regulatory clampdown on the internet industry, according to new research. Top-ranked Alibaba, owner of the South China Morning Post and the subject of a major antitrust investigation last year, saw its advertising market share among Chinese internet companies decline to 29 per cent, from 30 per cent a year ago, according to a report published by research firm Interactive Marketing Lab Zhongguancun, accounting and consulting firm PwC, and other organisations. Under Beijing’s forceful clampdown, China’s tech...
