China Imposes $765 Million Penalty on Trip.com for Monopolistic Practices
China's State Administration for Market Regulation has levied a substantial penalty of nearly 5.2 billion yuan ($765 million) on Trip.com Group, the country's largest online travel platform, for monopolistic conduct. The investigation, which began in January, revealed that Trip.com had been abusing its dominant market position since 2020. The company was found to have restricted market competition by entering into exclusive partnerships with certain hotels and offering them prioritized traffic allocation. Additionally, Trip.com prohibited some hotels from collaborating with competing platforms and required hotel operators to ensure the lowest rates on their platform. The regulator confiscated illegal gains of over 1.6 billion yuan ($245 million) and imposed a fine exceeding 3.5 billion yuan ($520 million). Trip.com was also ordered to refund approximately 122 million yuan ($18 million) withheld from hotel operators. The company has acknowledged the decision and committed to implementing rectification measu... 
