In the case of e-commerce giant Alibaba, China's internet regulator took a stake last week, when an arm under the state investment fund set up by the Cyberspace Administration of China bought a 1% share of Alibaba's Guangzhou Lujiao Information Technology subsidiary.The purchase was meant to tighten control over content at Alibaba's streaming video unit Youku and web browser UCWeb, sources told the FT.But Tencent reportedly wants a government agency from its home province of Shenzhen to buy the stake rather than the Beijing-based fund that bought shares of the Alibaba unit.Communist Party official Wu Shugang, who oversaw online commentary at China's internet regulator, joined the board.The purchases of so-called golden shares are a stark contrast to some of the heavy-handed punishments, usually fines, issued by the Chinese government that were previously a trademark of the tight grip Beijing kept on its tech sector."