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China Fines Trip.com $765 Million for Market-Dominance Abuse

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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.
China Fines Trip.com (ORG) Chinese (ORG) Trip.com Group Ltd. (ORG) Trip.com (ORG) the State Administration for Market Regulation (ORG)
Originally published by Bloomberg Technology Read original →