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China Tech Giants Spend Billions to Fuel Growth After Crackdown

  • Tencent, Alibaba plan to plow back incremental profits
  • Meituan is set to report wider losses as it boosts investment
Food delivery couriers for Meituan gather in Beijing on April 21. 

Food delivery couriers for Meituan gather in Beijing on April 21. 

Photographer: Yan Cong/Bloomberg
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Bloomberg News
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Beijing’s crackdown on its tech giants is fueling a noticeable phenomenon: it’s opened the spending floodgates.