China hits travel giant Trip.com with US$765mil penalty

    China hits travel giant Trip.com with US$765mil penalty

    Trip.com operates train, flight and hotel bookings within China and internationally. BEIJING: China’s market regulator said Saturday it had fined and confiscated 5.18 billion yuan (US$765 million) from the country’s largest online travel provider Trip.com Group for violating monopoly laws. Beijing has previously taken tough regulatory action on major internet companies over monopoly charges, notably…

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    China targets AI-powered price manipulation in new antitrust guidelines

    China targets AI-powered price manipulation in new antitrust guidelines

    A draft of the “Anti-Monopoly Compliance Guidelines for Internet Platforms”, published over the weekend by the State Administration for Market Regulation (SAMR), focused heavily on the sophisticated, often opaque ways in which online platforms with significant market power can exploit technological advantages to exclude rivals and harm consumer interests. The document identified eight “new risks”,…

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