Sonja Opper is Professor of Management at Bocconi University, Italy. She is author (with Victor Nee) of Capitalism from Below: Markets and Institutional Change in China (Harvard University Press: 2012) and winner of the Academy of Management’s Terry Award in 2013. The opinions expressed in this commentary are her own. Over the last 12 months, China’s government has engaged in an unprecedented regulatory crackdown on the country’s technology sector. Alibaba was hit with a multibillion-dollar antitrust fine; new regulatory rules were crafted that target the emergent online education sector; and the ride-hailing service Didi Chuxing saw its software pulled from...