(ECNS) -- China's market regulator has launched an antitrust investigation into Trip.com Group, a move that could result in substantial fines for the country's largest online travel platform.
The State Administration for Market Regulation announced Wednesday that it opened a case against Trip.com Group on suspicion of abusing its market dominance, in accordance with China's Anti-Monopoly Law. Following the announcement, Trip.com's share price fell 6.49% the same day.
Observers note similarities between the current case and previous antitrust investigations into Alibaba and Meituan in 2020 and 2021, which resulted in fines of 18.228 billion yuan (about $2.61 billion) and 3.442 billion yuan, respectively. The comparison has fueled expectations that Trip.com could face significant penalties if violations are confirmed.
Many online commenters voiced support for the investigation. Some merchants said hotel rooms they priced at 210 yuan ($29) were quietly adjusted by Trip.com to 180 yuan, with prices reportedly changed as often as five times a day. Merchants said the pricing function cannot be disabled, and those who refuse to comply risk reduced traffic or removal from the platform.
A report by ifeng.com said that merchants on Trip.com already bear a base commission rate of 12 to 15%. To maintain visibility and rankings, many are also compelled to purchase paid promotional tools to push commission costs to as high as 20 to 30%.
Research by BOCOM International showed that in 2024, Trip.com accounted for 56% of China's domestic online travel GMV (Gross Merchandise Volume), far surpassing competitors such as Tongcheng, Meituan and Fliggy. This overwhelming market share has given the company strong bargaining power over merchants.
Trip.com's own financial reports show that its net profit reached 19.9 billion yuan in the third quarter of 2025, equivalent to earning about 216 million yuan per day.
(By Gong Weiwei)
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