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Ant Group set the price at 68.8 yuan (.27) per share for the Shanghai tranche of its dual share-floating plan, the company said in a filing to the Shanghai Stock Exchange on Monday.

Another report published last month by the Institute of Population and Labor Economics at the Chinese Academy of Social Sciences (CASS) states that those born between 1990 and 1995 prefer free and open corporate cultures, while many born after 1995 are pursuing such lines of work as hosts of live web-streams or are becoming online influencers.

Apart from Douyin and Sougou, three other companies involved are advertisement and media production enterprises. Under the advisory of the State Administration for Market Regulation, the Beijing Administration of Industry and Commerce is now investigating the five companies and the punishment will be released in a timely manner, the release said.

Ant's move mirrors a series of other partnership deals forged with companies in India, Thailand and Indonesia, where similar digital payment services have been wheeled out.

Another 16 mine sites in the district will be restored for various purposes, including parks, tourism and tree plantations, Ci said.