China regulator imposes 5.2-bln-yuan penalty on Ctrip for monopoly abuses

 China's State Administration for Market Regulation said on Saturday that it has imposed administrative penalties on leading online travel platform Ctrip for abusing its dominant market position in violation of the country's Anti-Monopoly Law.

According to the regulator, the company was ordered to forfeit 1.658 billion yuan (about 244 million U.S. dollars) in illegal gains and pay a 3.521 billion yuan fine, bringing the total penalty to 5.179 billion yuan. ■