I think the crackdown taken by the Chinese government with Alibaba is a form of the existence of a regulator on an object that should comply with policy but because it has become a very large multinational company and dominates the Chinese economy, it makes the owner a little arrogant. Jack Ma's arrogance by offending financial regulators in China made the government even more annoyed. Their particular case is in a communist country where they have to comply with all existing policies even if they are not in accordance with the company, this is the weakness of the communist socialist economic system.
In China, everything must comply with government laws and regulations. This is the basic principle. There is no right or wrong. If you are not a public figure, you are still very free to speak. Freedom does not mean spreading rumors.