Trip.com Group hit with 120 billion‑yen antitrust fine in China

China's State Administration for Market Regulation imposed a 51.79 billion‑yuan (about 120 billion yen) fine on Trip.com Group for abusing its dominant position in the online hotel‑booking market. The penalty consists of confiscating 16.58 billion yuan in illegal gains and a 35.21 billion‑yuan fine, equal to roughly 7.5 % of the company’s 2025 domestic sales. Regulators said the company forced selected hotels into exclusive partnerships and required them to offer the lowest online price, using algorithmic traffic allocation and price‑adjustment tools. Trip.com was also ordered to return 1.22 billion yuan that had been held from hotel partners.

The sanction is the first large‑scale antitrust action against a Chinese online travel agency and ranks fourth among the biggest penalties levied on Chinese platform firms, after cases involving Alibaba, DiDi and Ant Group. The move reflects Beijing’s broader campaign against “involution” – low‑margin price wars that it believes undermine domestic consumption and the dual‑circulation strategy.