Chinese regulators have launched an antitrust investigation into online travel platform Trip.com on suspicion of abusing its dominant market position. The probe is based on initial reviews under China’s Anti-Monopoly Law. If found guilty, Trip.com could face fines of up to 10% of its previous year’s revenue. The move follows recent complaints from a Yunnan province homestay association accusing the platform of imposing coercive clauses, raising commissions arbitrarily, and restricting online traffic. In 2021, authorities fined Alibaba a record 18 billion RMB ($2.58 billion) for similar violations. Following the announcement, Trip.com’s Hong Kong-listed shares plunged nearly 22% on Thursday.