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Ant IPO suspension could be symptomatic of private sector retreat

The suspension of Ant Group’s H-shares and A-shares IPO not only caused frustration for investors great and small, but a hard stop on the listing also raises concerns that this could be indicative of Beijing asserting its policy of “advancing the state sector and retreating the private sector” (国进民退). Ant Group’s world-largest US$37 billion dual-listing in Hong Kong and Shanghai…

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