China hits Trip.com with US$765 million antitrust penalty after 6-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 penalty includes the confiscation of 1.658 billion yuan in illegal...