The most interesting thing going on in that respect with Chinese companies such as Alibaba, is that the government is forcing public companies to accept board members from the government. They've also taken nominal stakes in the companies as cover. [1][2][3]

There was endless speculation [4][5] that Jack Ma was forced out of power at Alibaba, by the government over concerns about the tech giants becoming too central to the Chinese economy and communications. Jack Ma was probably the most powerful person in China next to Xi.

[1] https://www.reuters.com/article/us-china-congress-companies/...

[2] https://www.wsj.com/articles/beijing-pushes-for-a-direct-han...

[3] https://www.nytimes.com/2017/10/13/business/china-online-sta...

[4] https://www.barrons.com/articles/jack-ma-alibaba-trade-war-1...

[5] https://www.wsj.com/articles/alibabas-jack-ma-denies-beijing...

Maybe I didn't frame it the right way, but there's an inherent difference between simply hold stock, and let red capital profit exponentially in exchange for political risk minimization and shadow clout.