The high-speed innovation and development of Internet finance has intensified the uncertainty of the industry, and regulators have put forward a “penetrating” regulatory program to establish a long-term regulatory mechanism for Internet finance, and Big Tech, as an important main body of Internet finance, possesses outstanding technological advantages and a large user base, which lays a better foundation for implementing the “penetrating” regulatory program. The ultimate goal of “penetrating” regulation is to maintain the stability of the financial system, and risk identification and control is an important way to maintain financial stability. Based on the identification framework of big-tech financial risks, we discuss the applicability of big-tech financial “penetrating” regulation, and design a “penetrating” financial regulatory framework for big-tech finance. Based on the theory of the “four-order” ratio principle, it puts forward the control of the applicability of the “penetrating” regulation of big tech, and provides decision-making guidelines for the implementation and improvement of the “penetrating” regulation policy in the field of big tech finance. It also provides decision-making guidelines for the implementation and improvement of the “penetrating” regulation policy in the big-tech financial sector.