With time, it became clear that tech companies could no longer develop unsupervised as their activities began to generate systemic stability risks. The sanctions against Alibaba, which ended with the cancellation of its IPO and a record $2.8 billion fine, are often taken as the starting point of the "regulatory winter". Indeed, Alibaba's case became the largest in China as regards the amount of financial penalty assessed. However, the first regulatory steps had been taken long before this case. All the potential risks posed by tech companies and, accordingly, all regulatory steps taken in their regard can be divided into three parts: combating chaotic capital expansion; anti-monopoly regulations; and threats to data security.