Chinese authorities open antitrust probe against trip.com
Trip.com is the largest online travel services provider in Asia by market capitalization and one of the biggest globally. Founded in 1999, Trip.com Group has over 400 million registered users. The company operates a vast ecosystem spanning flight and hotel bookings, vacation packages and corporate travel. It holds strategic stakes in major platforms including UK-based flight comparison site Skyscanner and Indian travel company MakeMyTrip.
The Chinese company is now in the eye of the storm, according to a report from CNBC. China’s State Administration for Market Regulation (SAMR) said late Wednesday that it had launched an investigation into Trip.com for “suspected abuse of its dominant market position and monopolistic practices,” according to the translation of the regulator’s statement. While SAMR did not provide details, the announcement was enough to rattle markets already sensitive to the risk of large fines or forced changes to business models.
Trip.com said it would “actively cooperate” with the investigation and emphasized that its business operations remain normal.
Analysts warned the probe could have significant long-term implications. Morningstar senior equity analyst Kai Wang said multiple local tourism associations have accused Trip.com of practices similar to those that previously landed other Chinese platforms in regulatory trouble. These include allegedly forcing local merchants to sign exclusive agreements, then raising commission fees once those contracts are in place. Trip.com could consequently face a “hefty fine.”
The investigation also revives concerns about Trip.com’s past regulatory issues. The company was fined in 2017 for forcing consumers to bundle additional paid services with bookings, a history that could weigh against it as a repeat offender in the eyes of regulators.
Investigation as Chinese New Year travel is fast approaching
The timing of the probe is particularly sensitive, coming as China’s tourism sector is poised for a strong rebound. Travel marketing and technology firm China Trading Desk estimates mainland Chinese travelers will take between 165 million and 175 million cross-border trips in 2026, up from about 155 million last year. Domestically, travel demand remains robust: consultancy Dragon Trail International said 501 million Chinese traveled within the country during the 2025 Lunar New Year holiday, a 5.9% increase from a year earlier, with tourism spending rising 7%.
Shares of Trip.com Group consequently plunged nearly 20% in Hong Kong trading on January 15, 2026, after Chinese regulators opened an antitrust investigation into the online travel giant. It triggered the stock’s steepest one-day decline since its Hong Kong listing in 2021 and made it the worst performer on the Hang Seng Index. Trip.com shares fell effectively 19.23%. The selloff followed another sharp drop overnight in the United States, where the company’s U.S.-listed shares closed 17% lower on Wednesday.
(Source: CNBC)
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