This aligns with what I've heard, and it's not surprising for Chinese govt to let an industry grow by itself then suddenly put a hard brake on it by imposing a

This aligns with what I've heard, and it's not surprising for Chinese govt to let an industry grow by itself then suddenly put a hard brake on it by imposing a set rules with its heavy hands. The difference is this time the victim is much larger and visible than anyone in the past. This mode of operation was not started by Xi, but no doubt Xi's gov't made it less transparent and more brutal to the business and investors.