China's market regulator investigates Meituan and Alibaba units for unfair competition in online hotel booking

China's market regulator is investigating four online hotel and travel booking platforms for suspected unfair competition. The Beijing branch of the State Administration for Market Regulation is probing Meituan's unit, Alibaba's unit, Tongcheng, and Tujia. This follows a recent crackdown on monopolistic behavior, including a 5.2 billion yuan fine on Trip.com. The companies have said they are cooperating with authorities. The investigations are part of Beijing's efforts to bolster consumption amid a slowing economy.