China's Market Probe Targets Trip.com's Dominance

China's market regulator has initiated an investigation into Trip.com for potential monopolistic practices. The regulator suspects the online travel company of abusing its market position. This move aligns with recent government efforts to tackle unfair competition among tech giants, following in the footsteps of penalties imposed on Alibaba.

China's market regulator has launched a probe into online travel platform Trip.com, investigating alleged monopolistic practices as part of Beijing's ongoing efforts to address suspected unfair competition in the tech industry.

The State Administration for Market Regulation disclosed that Trip.com is facing scrutiny for purported abuse of its dominant market position, though specifics of the allegations remain undisclosed. The inquiry stems from preliminary evaluations and the country's anti-monopoly legislation.

Trip.com, in response, expressed its willingness to cooperate with the investigation and comply fully with regulatory demands. The company's recent financial report indicates a 16% increase in third-quarter net revenue, highlighting its significant market influence.

(With inputs from agencies.)