Trip.com Group Limited (NASDAQ:TCOM) is under investigation by China’s State Administration for Market Regulation (SAMR) for alleged monopolistic practices in its online travel services business. The probe was announced on January 14, 2026 and focuses on claims that the company has abused its dominant market position by forcing merchants to choose its platform exclusively, unilaterally raising commission rates, imposing unfair trading conditions, and restricting traffic exposure for competing sites.
The investigation follows a broader regulatory push against China’s platform economy, with similar actions taken against Alibaba and other tech giants. SAMR’s inquiry is expected to assess whether Trip.com’s practices violate the Anti‑Monopoly Law, which allows fines of 1% to 10% of a company’s previous year’s sales and can impose operational restrictions. The probe’s timing—just weeks before the Spring Festival travel peak—adds urgency for the company to demonstrate compliance and mitigate potential disruptions to its core revenue streams.
Trip.com’s management has stated it will fully cooperate with the regulator and maintain normal business operations. In a statement, the company emphasized that it is “actively cooperating with the regulator’s investigation, fully implementing regulatory requirements, and working with all industry stakeholders to build a sustainable market environment.” The company also highlighted that its revenue mix remains robust, with the core travel booking segment continuing to drive growth despite the regulatory scrutiny.
Market reaction to the announcement was swift. Analysts noted that the probe could lead to significant fines and operational constraints, potentially eroding Trip.com’s competitive advantage in China’s largest online travel market. The company’s shares fell sharply in Hong Kong trading, reflecting investor concern over the potential financial and strategic impact of the investigation.
The investigation underscores the increasing regulatory risk facing China’s dominant platform companies. If SAMR finds violations, Trip.com could face substantial penalties and be required to alter its business model, which would affect its revenue mix and profitability. The company’s ability to navigate the probe will be closely watched by investors and industry observers as it could reshape the competitive dynamics of China’s online travel sector.
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