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Chinese internet giants’ ad revenue suffers from declining business confidence

Chinese companies are cutting digital ad spending as the economy slows and recurring Covid-19 outbreaks weigh on consumption, another sign of declining business confidence in the world’s most populous nation.

Chinese internet giants that operate several of the country’s largest online advertising platforms recently warned of weak advertising spending by their customers in the second quarter. Some also suggested it could be some time before a recovery takes hold, signaling pessimism about the broader economic outlook.

wsj

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