Over the past few decades, China’s digital giants have steadily raised China to a position of global technological leadership. They have also contributed tremendously to the advancement of China’s living standards. As such, the BAT (Baidu, Alibaba and Tencent) ecosystems have been able to grow with limited government intervention. Then, last week, China’s State Administration for Market Regulation (SAMR) slapped CNY500,000 fines on both Tencent and Alibaba for not reporting previous acquisitions for government clearance.