China’s embrace of Foxconn unit’s US$4.3 billion IPO has a tinge of desperation to it. Here’s why

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Just look at that list of investors in Foxconn Industrial Internet’s IPO. Forget BAT. It was obvious that Baidu, Alibaba Group Holding and Tencent Holdings would take minor stakes in the Foxconn Technology Group affiliate’s blockbuster Shanghai listing.
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