Tongcheng-Elong Holdings LtdImpact on assets 3
Tongcheng-Elong Holdings Ltd
Trip.com Group Ltd
MeituanChinese regulators have opened investigations into four online hotel and travel booking platforms over suspected practices that may hurt competition and merchant rights, Bloomberg reported on Saturday. The investigations target Hangzhou Taomei Aviation Service, Tongcheng Network Technology, Tujia Online Information Technology (Tianjin) and Beijing Sankuai Information Technology, according to a statement from the Beijing Municipal Administration for Market Regulation. The probes follow a broader regulatory review of China's online travel sector and a meeting with hotel and travel booking platforms convened by the State Administration for Market Regulation and the Ministry of Culture and Tourism, examining business practices that may affect fair competition and the rights of merchants using the platforms. The China Hospitality Association backed the investigations and called on booking platforms to provide greater transparency around their trading rules and algorithms, specifically citing search rankings, traffic allocation, commission rates and promotional programs. The action extends regulatory scrutiny of China's online hotel and travel booking industry after authorities imposed a 5.18 billion yuan ($765 million) antitrust penalty on Trip.com Group in July for abusing its dominant position in China's online hotel booking market, though no penalties or findings against the four platforms named in the latest investigations were announced.
Tongcheng-Elong Holdings Ltd
Trip.com Group Ltd
Meituan