China's State Administration for Market Regulation (SAMR) is set to announce the outcome of its antitrust investigation into Trip.com Group — the country's largest online travel services provider — as early as this week, three people familiar with the matter have said. The probe, launched in January 2026, could conclude as soon as Monday, one of the sources added.

Fine could reach 6 billion yuan

According to two of the sources, Trip.com faces a potential fine ranging from 2 billion yuan (approximately US$295 million) to 6 billion yuan. Under China's Anti-Monopoly Law, regulators can impose penalties including confiscation of illegal proceeds and fines of up to 10 per cent of a violator's previous year's revenues.

Trip.com reported net revenues of 62 billion yuan in 2025, meaning a maximum statutory penalty could theoretically reach 6.2 billion yuan. The company did not immediately respond to a request for comment, and the SAMR could not be reached for comment on Monday.

What the regulator alleged

When the SAMR launched the probe in January 2026, it alleged that Trip.com had abused its 'dominant market position' and engaged in 'monopolistic practices.' The regulator did not specify the precise conduct under investigation at the time of the announcement.

Trip.com Group operates a broad portfolio of travel platforms: the international-facing Trip.com brand, global flight metasearch engine Skyscanner, and the China-focused platforms Ctrip and Qunar. The company also holds a stake in rival Tongcheng Travel, which remains separately listed and independently operated.

Why it matters

A penalty at the upper end of the reported range would rank among the largest antitrust fines levied on a Chinese internet platform in recent years, underscoring that Beijing's regulatory scrutiny of dominant tech and platform businesses remains active even as the broader crackdown cycle that began in 2020 has eased for some sectors.

The travel sector, which recovered sharply post-pandemic, has come under fresh regulatory attention as consolidation among platforms has intensified. Trip.com's control of both domestic and international travel inventory — through Ctrip, Qunar, and Skyscanner — gives it unusual cross-border reach that regulators appear to have flagged as a competition concern.

What's next

If the SAMR concludes its probe this week, Trip.com will need to disclose the outcome and any financial penalty to investors, which could move its shares listed on both Nasdaq and the Hong Kong Stock Exchange. Markets will also watch whether the regulator imposes behavioural remedies — such as restrictions on bundling or preferential ranking — in addition to any monetary fine.

The resolution of this case will be closely watched by other Chinese platform operators as a signal of where the regulatory floor now sits for dominant internet businesses.