China Fines Trip.com 5.2 Billion Yuan for Abusing Market Dominance

MT Newswires Live07-27

China's State Administration for Market Regulation fined Trip.com (HKG:9961) 5.18 billion yuan for abusing its dominant position in China's online hotel booking market, according to a Saturday statement.

It confiscated 1.66 billion yuan in illegal gains and imposed a 3.52 billion yuan fine, bringing the total penalty to 5.18 billion yuan.

Authorities said Trip.com required some hotel operators to enter exclusive partnerships while forcing others to offer the lowest prices across platforms, restricting cross-platform operations and limiting hotels' pricing autonomy.

The regulator also ordered Trip.com to end the illegal practices and refund 122 million yuan in order reserve funds deducted from hotel operators.

In a Hong Kong bourse filing on Monday, Trip.com said it "sincerely accepts" the decision and will implement rectification measures in accordance with applicable laws and regulations.

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