SHANGHAI -- The suspension of Ant Group's much-awaited stock market debut, reportedly at President Xi Jinping's behest, is only one sign of the Chinese government's increasing domination of private-sector companies.
China's government, state-owned enterprises or state-backed funds have taken de facto control of 51 companies so far this year, up from around 20 to 30 in 2018 and 2019, disclosures by listed companies show.
