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Many investors avoid world's biggest bank at cheapest levels

They are deterred by the prospect that Chinese lenders like ICBC may be crippled by bad loans

Shanghai

INDUSTRIAL & Commercial Bank of China Ltd (ICBC) shares have never been this cheap, and some analysts say there has never been a better time to buy. That's not enough to win over fund manager Arthur Kwong.

Mr Kwong, the Hong Kong-based head of Asia-Pacific equities at

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