The company is being investigated for allegedly 'abusing' its dominant market position and engaging in monopolistic practices, according to a statement on Jan 14. — Unsplash
China is investigating Trip.com Group Ltd, the country’s largest online travel agency, over alleged antitrust conduct, according to the State Administration for Market Regulation.
The company is being investigated for allegedly "abusing” its dominant market position and engaging in monopolistic practices, it said in a statement on Jan 14.
While the agency didn’t disclose additional detail, China’s technology sector has faced heightened scrutiny from market regulators in recent years amid concerns about intensifying competition.
Trip.com’s Hong Kong-listed shares dropped 6.5%. Founded in 1999 and listed on Nasdaq in 2003 and in Hong Kong in 2021, Trip.com currently operates a portfolio of brands, including Ctrip, Qunar, Trip.com and Skyscanner and bills itself as a one-stop travel platform. – Bloomberg
