Trip.com probed for alleged monopolistic practices
The State Administration for Market Regulation in Beijing said on Wednesday that it had launched an investigation into Trip.com Group's alleged monopolistic practices involving abuse of market dominance. It said that following preliminary checks and in accordance with the country's anti-monopoly law, it opened a case and launched the investigation. Under China's anti-monopoly law, companies can face fines of between 1 percent and 10 percent of their annual sales from the previous year if found to have breached its provisions. Trip.com said in a statement that it was "actively" co-operating with the investigation and would "fully implement regulatory requirements". The online travel service provider recorded a 16 percent year-on-year surge in third-quarter net revenue, with accommodation reservation revenue increasing 18 percent from the same period in 2024, its most recent financial report showed. (Xinhua/Reuters)