China fines Trip.com Group $765 million over monopoly violations

China's market regulator said on 25 July that it had fined and confiscated a total of 5.18 billion yuan, or about $765 million, from Trip.com Group for violating monopoly laws.

The State Administration for Market Regulation said it had determined that Trip.com abused its dominant market position. The total included 1.66 billion yuan in confiscated illegal gains and a 3.52 billion yuan fine.

The regulator had opened an investigation in January into Trip.com over suspected abuse of market dominance under China's Anti-Monopoly Law. It said Trip.com used anticompetitive practices including exclusive dealing arrangements with hotels and forcing some operators to stop using competing platforms. The regulator said the conduct restricted competition and harmed hotel operators and consumers.

Trip.com Group, described in the source as China's largest online travel provider, operates train, flight and hotel booking services in China and internationally.

Trip.com said in a statement on 25 July that it sincerely accepted the regulator's findings. In a WeChat post, the company said it would use the penalty for reflection and change, and would abandon what it called inefficient, cutthroat competition.

The source also noted that Beijing has previously taken tough regulatory action against major internet companies over monopoly allegations, including a crackdown on Alibaba that began in late 2020.