TRIP.COM(HK:09961) Zheng Quan Shi Bao Wang·2026-01-14 12:31Core Viewpoint - The Chinese market regulator has initiated an investigation into Ctrip Group for alleged monopolistic practices, leading to a significant drop in its stock prices [1][2]. Group 1: Investigation and Regulatory Actions - The State Administration for Market Regulation (SAMR) has formally opened an investigation into Ctrip Group for suspected abuse of market dominance under the Anti-Monopoly Law of the People's Republic of China [1]. - Ctrip has stated it will cooperate with the investigation and continue to operate its business normally while providing quality services to users and partners [2]. - Local government departments have previously conducted discussions with Ctrip regarding potential issues such as "choose one from two" practices and price manipulation [3]. Group 2: Allegations and Market Impact - The Yunnan Provincial Tourism Homestay Industry Association has reported complaints from members about Ctrip's practices, including unfair commission increases and unfair trading conditions that harm merchants' rights [2]. - Ctrip holds a 56% market share in gross merchandise volume (GMV) for 2024, indicating a dominant position in the industry, alongside its controlling stake in Tongcheng Travel, which has a 15% share [4]. - Allegations include the use of hidden barriers through a tiered merchant system that imposes unreasonable conditions on hotel partners, leading to significant operational challenges for smaller businesses [3][4].