new delhi the full implications of beijings rapidfire moves against jack mas internet empire in recent days wont be apparent for weeks but one lesson is already clear the glory days for chinas technology giants are overthe countrys government imprinted its authority indelibly on the countrys technology industry in the span of a few days in landmark announcements it slapped a record 28 billion fine on alibaba group holding ltdfor abusing its market dominance then ordered an overhaul of ant group coread alsojack mas fortune jumps 2 billion after record alibaba finealibabas american depositary receipts climbed 93 on monday in new york their biggest jump in almost four years for jack ma the founder of the ecommerce giant it meant his fortune increased by 23 billion to 521 billion according to the bloomberg billionaires indextimeline events leading up to chinas 275 billion fine on alibabachina slapped a record 275 billion antitrust fine on alibaba group holding ltd on saturday after regulators determined the ecommerce giant had abused its dominant market position for several yearson tuesday regulators summoned 34 of the countrys largest companies from tencent holdings ltd to tiktok owner bytedance ltd warning them the red line of laws cannot be touchedthe unspoken message to ma and his cohorts was the decade of unfettered expansion that created challengers to facebook inc and google was at an end gone are the days when giants like alibaba ant or tencent could steamroll incumbents in adjacent businesses with their superior financial might and data hoardsbetween the rules for ant and the 28 billion fine for alibaba the golden days are over for chinas big tech firms said mark tanner founder of shanghaibased china skinny even those who havent been targeted to the same extreme will be toning down their expansion strategies and adapting many elements of their business to the new bridled environmenttech companies are likely to move far more cautiously on acquisitions overcompensate on getting signoffs from beijing and levy lower fees on the domestic internet traffic they dominate ant in particular will have to find ways to untether chinas largest payments service from its fastgrowth consumer lending business and shrink its signature yuebao money market fund once the worlds largesteven companies that have been less scrutinized so far like tencent or meituan and pinduoduo inc are likely to see growth opportunities curtailedthe watershed moment was years in the making in the early part of the last decade visionary entrepreneurs like ma and tencent cofounder pony ma no relation created multibillion dollar empires by upending businesses from retail to communications elevating the lives of hundreds of millions and serving as role models for an increasingly affluent younger generation but the enormous opportunities coupled with years of hypergrowth also fostered a winnertakesall landgrab mentality that unnerved the communist partyregulators grew concerned as the likes of alibaba and tencent aggressively safeguarded and extended their moats using data to squeeze out rivals or forcing merchants and content publishers into exclusive arrangements their