HONG KONG -- Chinese companies are slashing their online advertising as COVID-19 shutdowns hit consumer spending while a slowing economy dents hopes for a quick recovery.
Internet groups including Tencent and Baidu are warning that their digital advertising revenue tumbled in the first three months of the year and they don't expect the second quarter to be much better as companies respond to a drop in their own sales by cutting back on marketing budgets.
By continuing to browse this website, you accept cookies which are used for several reasons such as personalizing content/ads and analyzing how this website is used. Please review our
to learn how you can update your cookie settings.