China’s top market watchdog has formally launched an antitrust investigation into Trip.com Group, citing suspected abuse of market dominance and monopolistic conduct, according to an announcement released on Wednesday.
The State Administration for Market Regulation (SAMR) said the probe was initiated after preliminary verification and in accordance with China’s Anti-Monopoly Law. The notice was published on the regulator’s official website.
In response, Trip.com stated that it will fully cooperate with the authorities, strictly comply with regulatory requirements, and work alongside industry stakeholders to promote a sustainable and orderly market environment. The company emphasized that its business operations remain normal and that it will continue delivering quality services to users and partners.
Following the announcement, Trip.com Group’s shares dropped nearly 9 percent in late trading on Wednesday.
The investigation comes after mounting complaints from industry participants. On December 8 last year, a homestay association in Yunnan Province publicly called for evidence to support a potential antitrust case against Trip.com, alleging long-term unfair competition practices by the platform. The association also announced the launch of rights-protection actions against improper competitive behavior by online travel agencies (OTAs) via its official WeChat account.
According to the association, numerous member businesses have reported practices by Trip.com and other OTAs that allegedly exploit their dominant market positions. These include requiring merchants to choose one platform exclusively, unilaterally increasing commission fees, imposing unfair trading terms, and limiting traffic exposure. Such practices, the association said, have infringed upon merchants’ legitimate rights and undermined fair market competition.
SAMR’s move reflects China’s broader effort to strengthen and standardize antitrust enforcement in the platform economy. On November 15, 2025, the regulator released draft antitrust compliance guidelines for internet platforms for public consultation, and later indicated it would accelerate their finalization and implementation.
SAMR spokesperson Wang Qiuping said the guidelines are intended to better protect consumers as well as small and medium-sized enterprises, encourage lawful and compliant platform operations, and support the development of a healthy and well-regulated digital economy.
The draft rules identify eight emerging monopoly risks, including so-called “lowest-price-across-the-internet” requirements, where platforms force merchants to offer prices no higher than those on competing platforms. According to a SAMR official, such practices may constitute abuse of market dominance or illegal monopoly agreements.
Trip.com describes itself as a comprehensive travel service provider operating multiple brands, including Ctrip, Trip.com, Qunar and Skyscanner, offering travel products, services and content to users worldwide. The company was listed on Nasdaq in 2003 and completed a secondary listing on the Hong Kong Stock Exchange in 2021.
Industry estimates show that Trip.com accounted for approximately 56 percent of China’s hotel and travel gross merchandise value in 2024, while Tongcheng ranked second with a 15 percent share. Together, the two platforms are estimated to control more than 70 percent of China’s domestic online travel agency market, according to a July 2025 report by Beijing Daily.
