China imposes $77 million fine and forfeiture on Trip.com

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1. 1China's State Administration for Market Regulation (SAMR) seized and fined Trip.com Group a total of 5.2 billion yuan ($77 million).
2. 2For abusing its dominance in the online hotel booking market, the regulator forfeited 1.66 billion yuan in illegal gains and imposed a fine of 3.52 billion yuan, while also ordering the company to refund 122 million yuan in reservation deposits it had withheld from hotels.
3. 3Investigators uncovered practices in which the company secured exclusive contracts with certain hotels through traffic allocation, platform rules, and technical measures, as China steps up its crackdown on unfair competition among internet platforms.

Source Reuters +2 · View original ↗

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