China hits Trip.com with US$765 million antitrust penalty after six-month investigation
China’s market regulator has imposed a 5.2 billion yuan (US$765 million) penalty on Trip.com Group, the country’s largest online travel services provider, for “monopolistic conduct”. Trip.com – operator of its namesake international platform, China-focused siblings Ctrip and Qunar, and global site Skyscanner – had “abused its dominant market position”, the State Administration for Market Regulation (SAMR) said on Saturday. The market regulator confiscated 1.658 billion yuan in illegal gains and...
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