(CAIXIN GLOBAL)- For Chinese tech giants, 2021 will be remembered as a harrowing year of regulation, when government penalties and a litany of tough rules hampered the sector's performance and resulted in some big losses of market value.

Regulators had a range of concerns to address, from specific targets like minors' gaming habits and online insurance sales to broader issues like clamping down on anti-competitive behaviour and the disorderly expansion of capital, which is in line with the country's strategic goal of achieving "common prosperity" - a phrase that has been frequently mentioned by the top leadership since last year.