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China’s Fintech Sector Continues to Struggle, Bairong the Latest Victim

The Chinese technology sector continues to flounder as fintech Bairong Inc. limped into its Hong Kong debut. So reports Yahoo! Finance.

china 156219 640smallShares slumped as much as 16% and the company’s debut was the worst Hong Kong IPO of more than $500 million in three years. “Chinese fintech companies are going through a particularly hard year after Beijing torpedoed Ant Group Co.’s initial public offering, signaling wider crackdowns for the sector,” according to the article.

Read the full article from Yahoo! Finance.

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