China’s State Administration for Market Regulation (SAMR) imposed a combined fine and confiscation of 5.18 billion yuan (approximately $765 million) on Trip.com Group, the country’s largest online travel service provider, for violating the nation’s anti-monopoly laws. The penalty was announced on Saturday following an investigation that began in January into the company’s market practices.

SAMR concluded that Trip.com had abused its dominant position by engaging in anti-competitive behaviors, including enforcing exclusive agreements with hotels and pressuring some to cease cooperation with competing platforms. These actions were deemed to impede fair competition, harm the interests of hotel operators and consumers, and obstruct the healthy development of the travel industry.

The regulatory agency’s decision included the confiscation of 1.66 billion yuan in illegal gains and a fine of 3.52 billion yuan. The investigation reflects China’s broader regulatory approach toward curbing monopolistic practices in key internet sectors, continuing a trend that began with its high-profile crackdown on technology and e-commerce giant Alibaba in late 2020.

Trip.com, which manages bookings for trains, flights, and hotels both domestically and internationally, issued a statement on Saturday expressing acceptance of the regulator’s findings. The company said it would take the penalty as an opportunity for “deep reflection and self-transformation” and pledged to abandon what it described as “inefficient, cutthroat competition.”

This action forms part of China’s ongoing efforts to regulate its technology industries and promote fair market competition amid rapid growth and consolidation in the digital economy.