CHINA FINES TRIP.COM $765M FOR MARKET ABUSE

Trip.com, which controls roughly 60% of China's online travel booking market, faced charges of leveraging its dominance to squeeze competitors and restrict merchant access. The fine represents one of Beijing's largest penalties against a tech platform this year, following increased scrutiny of major internet companies. The investigation examined Trip.com's practices regarding commission rates, search rankings, and promotional exclusivity agreements. Regulators determined the company imposed unfair conditions on hotels and airlines while blocking access to competing booking platforms. Trip.com acknowledged the findings and stated it would comply with the order. The company operates multiple travel platforms including Qunar and Skyscanner following earlier acquisitions. The penalty aligns with China's broader enforcement campaign against tech giants abusing market power. Previous actions targeted Alibaba, Tencent, and Meituan under antitrust regulations introduced in 2021.