Alibaba's Ant Group IPO Said to Be Halted by Chinese President Xi Jinping

China’s banks Highlights Ma had told a summit that the regulatory system was stifling innovation President Xi ordered regulator to investigate its stock market flotation State regulators compiled reports on Ant China’s President Xi Jinping personally decided to pull the plug on Ant Group’s $37-billion (roughly Rs. 2,76,200 crores) initial public offering, the Wall Street Journal reported on Thursday, citing Chinese officials with the knowledge of the matter. The decision to stop what would have been the world’s largest ever IPO, came days after the fintech giant’s billionaire founder Jack Ma launched a public attack on the country’s financial watchdogs…