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Would-be investors in shares of Ant Financial, billed as the world's largest initial public offering, were rattled by an abrupt decision by Chinese regulators to cancel the flotation.   © Reuters
Market Spotlight

China investors rethink market risk after Ant's scuppered IPO

Lure of big returns remains despite unwelcome reminder of Beijing's power

NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent | China

HONG KONG -- Global investors are taking two distinct messages from the sudden termination of Ant Group's initial public offering -- billed as the world's largest -- by Chinese regulators.

First, controlling financial risk in the world's No. 2 economy is clearly a top priority for Beijing. Second, a transparent regulatory environment of the sort needed to make Shanghai into a premier financial center remains a work in progress.

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