On Saturday, China’s State Administration for Market Regulation (SAMR) imposed administrative penalties on Ctrip Group for abusing its dominant market position in violation of the country’s Anti-Monopoly Law. The total fine and confiscated illegal gains amounted to RMB 5.179 billion ($760 million). In a statement released the same day, Ctrip said it had received the administrative penalty decision from SAMR.
“We sincerely accept and fully comply with the administrative penalty decision issued by the State Administration for Market Regulation. We will strictly follow the regulator’s requirements, systematically implement all corrective measures, and ensure every rectification task is carried out effectively.” [TechNode Reporting]
