0457 GMT - The long-term growth outlook remains promising for China's online travel agency segment, which has already seen meaningful consolidation, HSBC Global Research analysts write in a note. JD.com announced its intention to enter the industry, offering hotels under its JD Hotel Plus program zero commission for up to three years, they add. China's online travel agency industry has been experiencing years of competition and consolidation, which started with Meituan's aggressive expansion in 2016, followed by TikTok's ambitions in 2023, they say. The competitive landscape stabilized last year, with both Meituan and TikTok raising their fees to those charged by existing industry players, the analysts say, adding that JD.com will likely chart a similar course.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
June 19, 2025 00:57 ET (04:57 GMT)
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