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China's state control of economy grows with 50 backdoor takeovers

Scrapping of Ant IPO comes amid squeeze on private sector this year

Guards stand outside the Great Hall of the People in Beijing.   © Reuters

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.

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