Ant Group consumer finance arm dealt blow by China Cinda pulling out of investment Jan. 14, 2022 9:54 AM ET [China Cinda Asset Management Co., Ltd. (CCGDF)](/symbol/CCGDF?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ACCGDF) [BABA](/symbol/BABA?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ABABA) [By: Liz Kiesche](/user/49447318/profile?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cbutton%3Aauthor_name%7Cfirst_level_url%3Anews) , SA News Editor [China Cinda Asset Management Co., Ltd. (CCGDF)] [BABA] [By: Liz Kiesche] , SA News Editor – China Cinda Asset Management ( [OTCPK:CCGDF] ), a state-owned financial institution and one of the country's biggest bad debt managers, is backing out of planned investment in the consumer-finance arm of Jack Ma's Ant Group, a setback for the fintech's lending-business restructuring. – Cinda ( [OTCPK:CCGDF] ) [said it]…