Business & Finance
China Fines Trip.com $765 Million for Market-Dominance Abuse
Key Points
Asia China Fines Trip.com $765 Million for Market-Dominance Abuse Chinese regulators fined Trip.com Group Ltd. 5.18 billion yuan ($765 million), concluding that the country’s largest travel booking platform abused its market dominance after a monthslong investigation. The probe found that Trip.com employed monopolistic practices centered on traffic allocation mechanisms, utilizing its platform rules and technology, according to a statement from the State Administration for Market Regulation...
Asia
China Fines Trip.com $765 Million for Market-Dominance Abuse
Chinese regulators fined Trip.com Group Ltd. 5.18 billion yuan ($765 million), concluding that the country’s largest travel booking platform abused its market dominance after a monthslong investigation.
The probe found that Trip.com employed monopolistic practices centered on traffic allocation mechanisms, utilizing its platform rules and technology, according to a statement from the State Administration for Market Regulation on Saturday. The company restricted hotel operators’ cross-platform operations and infringed on their right to set their own prices, harming consumer interests, it said.