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The technology sector is facing challenges on all sides. A broader economic slowdown saw China’s third quarter GDP slow to its weakest pace since the global financial crisis. The currency has slid against the dollar and domestic markets are down sharply. Alongside a series of tit-for-tat trade tariffs, the United States has accused China of stealing technology, barring tech acquisitions by Chinese firms and blacklisting others how to wear cufflinks without french cuffs uk sale. At home, tech companies from social media to gaming and fintech have seen tightening regulation and a heavier hand from the ruling Communist Party..
Gaming and social media giant Tencent has seen its stock price dive by more than 25 percent this year amid a temporary ban on licenses for games, its top revenue driver how to wear cufflinks without french cuffs uk sale. At the country’s top internet forum in Wuzhen this week, officials signaled they would look to rein in the country’s tech giants. “They can be big but we should also be well-regulated,” said Gao Xiang, vice minister of China’s Ministry of Industry and Information Technology on Thursday. China’s regulators have already cracked down on everything from rude joke apps to livestream bloggers disrespecting national anthem – sending a chill through the free-wheeling and innovative online arena..
“The people who worry about technology is first older people, second government and third successful people, they hate it and worry about it,” Alibaba’s billionaire executive chairman Jack Ma said at an event in Shanghai last week. “Normally businesses do innovation and governments talk innovation. In order to protect yesterday’s interests how to wear cufflinks without french cuffs uk sale. they will say please don’t do it.”. This year Alibaba has lowered its revenue forecast for the first time since listing in 2014..
Meanwhile, local ride-sharing giant Didi Chuxing, backed by Japan’s SoftBank Group Corp, has cut the subsidies it pays to drivers after being forced to shutter its car-pooling services under a plan agreed with regulators following criticism over the murders of two young female passengers in separate incidents. “(In 2015) I bought my first vehicle because you could earn almost 800 yuan a day with the subsidies,” says Huang Sun, who used to drive full-time for the company but now says he only takes rides when he is bored how to wear cufflinks without french cuffs uk sale. “Now maybe you can’t even earn 200 yuan if you drive all day.”..
The chill across the tech industry is reflected in hiring data how to wear cufflinks without french cuffs uk sale. According to statistics released by leading local job website Zhaopin.com, job demand in the IT and internet sector has dropped by 51 percent as of September compared with a year earlier. Companies have slowed hiring in certain fields, including sales and software development, recruiters and human resources staff at Alibaba and Tencent said, asking not to be named because they were not authorized to speak to press. Tencent did not respond to a request for comment. Alibaba had no immediate comment..