When we talk about anti-trust and tech industry policy in the US, we know by default that means that it's going to involve the FTC (M&A), SEC (Accounting/Financing Practices), and the House+Senate Judiciary Committee (review M&A, Financing, and Accounting Practices decided by FTC+SEC)
The Chinese tech industry in the 2010s had a number of competing regulators - China Securities Regulatory Commission, China Banking and Insurance Regulatory Commission, State Administration of Foreign Exchange, Ministry of Industry and Information Technology, Cyberspace Administration of China, State Administration for Market Regulation, People's Bank of China, etc.
Because there are so many regulators/agencies stepping on each others toes, there was a lot of intrigue and bad practices in the Chinese tech industry from 2000-2020 (eg. Crypto companies like FTX and Binance bribing PBOC officials and AntPay arguing that as a FinTech it should be regulated as a tech company/by the MIIT and not financial regulators)
During 2019-2022, there was a massive regulatory reform across the board that divvied up the roles of individual agencies and created the norms that startups and companies needed to follow.
The resolution of Ant Group's whole saga is basically setting precedent on which agencies/regulators within the PRC do what, and now investors have an easier time understanding how to vet investment risks in the tech sector.