China Regulators Summon Trip.com, Alibaba Units Over Lending Practices
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Six of China’s largest travel platforms have been called in by regulators over irregular practices in their loan-facilitation businesses. Photo: VCG
China’s top financial and market regulators have summoned six major online travel platforms, including global booking giant Trip.com Group Ltd. and Alibaba Group Holding Ltd.’s mapping unit AMap, ordering them to rectify irregularities in their consumer-lending businesses.
The National Financial Regulatory Administration, the State Administration for Market Regulation and the People’s Bank of China called in the companies Friday, just ahead of the Lunar New Year holiday travel rush. Also summoned were Tongcheng Travel Holdings Ltd., Fliggy, Umetrip and Qunar.
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- Chinese regulators summoned six major online travel platforms, including Trip.com and Alibaba's AMap, to rectify irregularities in their consumer-lending businesses.
- Companies were ordered to standardize marketing, clearly disclose loan details, and improve complaint mechanisms due to rising complaints over unclear financial products.
- Stricter online financial product marketing rules are expected in 2026, requiring transparent disclosure of interest rates, fees, and repayment terms.
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Who’s Who
- Trip.com Group Ltd.
- Trip.com Group Ltd. is a global booking giant and a major player in China's online travel market. The company, listed on Nasdaq and in Hong Kong, has a comprehensive financial-services portfolio, offering credit products like "Na Qu Hua." They are the majority shareholder of Qunar and were recently summoned by Chinese regulators along with other online travel platforms to address irregularities in their consumer-lending businesses, particularly concerning "assistant lending."
- Alibaba Group Holding Ltd.
- Alibaba Group Holding Ltd. is among the six major online travel platforms summoned by Chinese regulators to rectify irregularities in their consumer-lending businesses. Its mapping unit, AMap, and travel platform, Fliggy, are involved. Alibaba faces scrutiny due to its integration with its payments affiliate Alipay and its role in channeling borrowers to financial institutions.
- Tongcheng Travel Holdings Ltd.
- Tongcheng Travel Holdings Ltd. is one of six major online travel platforms in China summoned by regulators for irregularities in their consumer-lending businesses. The company, which is listed in Hong Kong, has recently expanded into financial services, acquiring a microloan license and a third-party payment license to create a closed-loop system for payments and credit.
- Fliggy
- Fliggy is an online travel platform under Alibaba Group Holding Ltd. It was among the six major online travel platforms summoned by Chinese regulators regarding irregularities in their consumer-lending businesses. Fliggy is deeply integrated with Alipay, Alibaba's payments affiliate. Regulators ordered Fliggy and other platforms to standardize marketing practices and be transparent about lending details.
- Umetrip
- Umetrip, known as 航旅纵横 in Chinese, is a major online travel platform in China. It functions as the official mobile service platform for China's civil aviation industry, operating under the state-owned China TravelSky Holding Co. Ltd. Umetrip holds a monopoly over authoritative flight data, underscoring its significant role in the country's travel sector.
- Qunar
- Qunar is one of six major online travel platforms in China recently summoned by financial and market regulators. They, along with companies like Trip.com and Fliggy, were ordered to rectify irregularities in their consumer-lending businesses. Qunar became a majority-owned subsidiary of Trip.com in 2015 following a share swap with Baidu Inc.
- Baidu Inc.
- Baidu Inc. is mentioned in the article as having been a majority shareholder of Qunar following a share swap with Trip.com in 2015. This detail arises in the context of China's regulatory actions against major online travel platforms concerning irregularities in their consumer-lending businesses.
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What Happened When
- 2015：
- Trip.com became Qunar’s majority shareholder following a share swap with Baidu Inc.
- By late 2021：
- The Administrative Measures for Online Marketing of Financial Products were first released for public comment.
- February 13, 2026：
- China’s National Financial Regulatory Administration, State Administration for Market Regulation, and People’s Bank of China summoned six major online travel platforms regarding consumer-lending business issues.
- February 13, 2026：
- A joint statement was released by regulators instructing the platforms to rectify marketing practices, disclosure of lending institutions, and consumer protections.
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