Trip.com Group has received an administrative penalty decision from China’s State Administration for Market Regulation.
According to China’s state-run Xinhua News Agency, the company was ordered to forfeit illegal gains and pay a fine totaling 517.9 million yuan (approximately 125 billion Japanese yen). The case is said to be the first antitrust law violation in China’s online travel industry.
The company will accept the decision, take corrective measures in accordance with relevant laws and regulations, and implement the requirements set out in the decision. It aims to strengthen its long-term management framework and contribute to the sustainable development of the travel industry.
Management will hold an investor conference call from 8:00 a.m. Eastern Time on July 27. Advance registration is required to participate.
