Trip.com Antitrust Probe May Conclude This Week, Fine Could Reach 6 Billion Yuan
Claire Weston
China's antitrust regulator may announce its Trip.com ruling as early as Monday, with the fine ranging from RMB 2 billion to 6 billion — the upper end approaching the legal ceiling of 10% of annual revenue.
Where does the probe stand?
Three people familiar with the matter told the *South China Morning Post* the regulator could announce results as early as this week, with one source pointing to Monday.
The State Administration for Market Regulation (SAMR) opened the probe in January 2025, accusing Trip.com of abusing its "dominant market position" and engaging in "monopolistic conduct."
Neither Trip.com nor SAMR has commented as of publication.
How large could the fine be?
Two sources said the penalty range is RMB 2 billion to 6 billion (roughly USD 275 million to 825 million).
Trip.com reported RMB 62 billion in net revenue for 2025; a RMB 6 billion fine would equal about 9.7% of that figure.
This means → at the upper end, the fine would sit just below China's Anti-Monopoly Law cap of 10% of prior-year sales — a near-maximum penalty.
How wide is Trip.com's platform reach?
Trip.com Group operates the global Trip.com app, flight-comparison site Skyscanner, and China-market brands Ctrip and Qunar.
It also holds a stake in Tongcheng Travel, which remains independently listed.
In plain terms = from domestic hotels to global airfare search, Trip.com's coverage across online travel is precisely what underpins the regulator's "dominant position" charge.
Why does the exact number matter so much?
Whether the fine lands at RMB 2 billion or 6 billion is the key variable for gauging the probe's financial impact on Trip.com.
This means → a number near the floor could let markets treat the ruling as a "clearing event"; a number near the ceiling signals that Beijing's tolerance for platform dominance is tightening further.
Beyond the dollar amount, investors should watch for behavioral remedies attached to the penalty — those often reshape a company's operations more than the fine itself.
Content is for reference only, not financial advice.