Trip.com Group says it will actively cooperate with the investigation. Its business operations remain normal.

Under China’s anti-monopoly law, companies found in violation can be fined between 1% and 10% of their annual revenue from the previous year. The online travel platform reported a 16% year-on-year increase in third-quarter net revenue, with accommodation booking revenue rising 18% compared with the same period in 2024, according to its latest financial results.

The practices cited include coercive contract terms, arbitrary increases in commission fees and the blocking of internet traffic, the association said, adding that it had launched an anti-monopoly campaign. Chinese authorities have previously taken action against several major technology companies in a bid to curb what they view as unfair competition that distorts market conditions. In 2021, regulators imposed a record 18-billion-yuan ($2.58 billion) fine on Alibaba after an anti-monopoly investigation concluded the e-commerce group had abused its dominant market position for years. More recently, the government has stepped up efforts to rein in excessive price competition, which has weighed on businesses and added to deflationary pressures.

Hong Kong-listed shares of Trip.com tumbled in early trading on the day after regulators opened the antitrust investigation. Shares of the company slid as much as 21.7% to HK$446, the lowest since June 2025, before narrowing the loss to around 17%.