Trip.com Group and Tripadvisor China Launch the 2026 Global Influencers' China Travel Campaign

Newsfile Corp.

Zigong, China--(Newsfile Corp. - January 30, 2026) - The 2026 Global Influencers' China Travel Campaign, jointly launched by Trip.com Group and Tripadvisor China, has officially commenced, with Zigong, the millennium-old salt capital of China, selected as the inaugural destination. Centered on the theme of a "Chinese New Year Illustrated Guide," the campaign brings together international influencers to experience and share authentic Chinese festival culture with global audiences, injecting fresh momentum into China's inbound tourism recovery and growth.

"As lanterns light up in Zigong, the 2026 Chinese New Year officially kicks off." The National Chinese New Year Lighting Ceremony, held in Zigong, elevated the city's lantern festival from a local celebration to a nationally symbolic moment marking the arrival of the new year in the lunar calendar. As a highlight of the 32nd Zigong International Dinosaur Lantern Festival and the broader Chinese New Year celebrations, the event welcomed over 40 international influencers, who participated in hands-on intangible cultural heritage experiences such as lantern frame construction and papering, tasted cuisine rooted in salt-industry heritage, and immersed themselves in festive customs where "lanterns and flavors" intertwine. The signature "I Shine Bright" Chinese New Year lighting ceremony employed the Chinese seal as a symbolic medium, linking landmarks across seven cities and interpreting the concept of "Lighting Up the Whole Nation for Chinese New Year at Zigong." This initiative positioned Zigong as a pioneer in reigniting national Chinese New Year traditions, resonating with younger generations seeking renewed meaning in festive culture. It also established Zigong as the first stop for global travelers experiencing the Chinese New Year, contributing a dynamic showcase to the "Sichuan Ease" cultural tourism brand.

Over three days of in-depth exploration, international influencers experienced Zigong's cultural tourism offerings from multiple perspectives. Night tours of Fuxi River, visits to Xianshi Ancient Town, the Zigong Salt Industry History and Culture Museum, and Zigong Fantawild Dino Kingdom offered a vivid encounter with the city's salt heritage, dinosaur culture, and vibrant urban life. Moving beyond traditional sightseeing, the itinerary emphasized "local immersion + cultural understanding," enabling participants to grasp the deeper meaning of the Chinese New Year. Influencers shared authentic, first-hand experiences with global audiences, effectively breaking traditional barriers to international tourism promotion and offering a compelling model for niche cities seeking global visibility.

Zigong also marked the launch of Trip.com's "One City, One Intangible Cultural Heritage" initiative. Anchored in Spring Festival heritage, the project builds bridges between Chinese and international audiences. Through the Trip.Pal global network, viral content creators and leading influencers from countries such as Russia, Thailand, and Indonesia visited Zigong to promote Chinese New Year customs and intangible cultural heritage. Complementary initiatives, including the "Come Celebrate the New Year at My Home" UGC campaign and the PGC+UGC feature "Chinese New Year in Intangible Cultural Heritage," guided global audiences to explore China through authoritative storytelling and high-quality content. As a long-term strategic IP, the project will continue to support the global promotion of Chinese culture.

According to Trip.com data, in 2025, Zigong's inbound tourist arrivals increased by 25% year-on-year, while total inbound tourism spending rose by 30% compared to the previous year. This growth reflects Zigong's continuous innovation in cultural tourism development. While preserving traditional lantern craftsmanship, the city has integrated modern technologies such as LED lighting and AI interaction, transforming the lantern festival into a fully immersive experience. By further leveraging its salt culture and dinosaur heritage, Zigong has developed a distinctive "salt-dinosaur-lantern" cultural tourism system, encouraging a shift from single-day visits to multi-day immersive travel. Additionally, the "Trip Music Award" concert series, co-created with Trip.com, has enriched the lantern festival with diverse musical expressions.

With 2026 as a new starting point, Zigong's inbound tourism outlook is very promising. Today, Zigong's lanterns not only illuminate the city's night skies but also light the path for Chinese culture to reach the world. By weaving together the core elements of the Chinese New Year and Zigong lanterns, this initiative offers a compelling "Zigong model" for the high-quality development of China's inbound tourism. When traditional culture is revitalized through innovation, and when niche destinations find their global expression, deeper cultural connections can be forged. This invites more international travelers to understand, experience, and celebrate the Chinese New Year, allowing Zigong, the millennium salt capital, to shine with renewed brilliance on the global stage.

Company Name: Shanghai Ctrip Commerce Co., Ltd.

Contact Person: Qing Jia

Email: qjia@trip.com

Website: www.ctrip.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282042

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PDD stock is no longer a Top Pick at Morgan Stanley. Here’s why

Investing.com

Investing.com -- Morgan Stanley has removed PDD Holdings from its list of top investment ideas for 2026, citing rising regulatory pressure and a challenging consumer backdrop.

Analyst Eddy Wang said the bank has updated its risk-reward view on the company following new developments affecting China’s Internet sector.

The shift comes after regulators intensified scrutiny. Morgan Stanley notes that “the investigation into food delivery platforms launched by The General Office of Anti-Monopoly and Anti-Unfair Competition Commission last week” has increased uncertainty for the sector.

The firm also points to “the anti-monopoly investigation on TCOM announced by SAMR yesterday,” which it says underscores broader regulatory risks facing large digital platforms, including PDD.

Beyond regulation, Morgan Stanley highlights macro and competitive pressures. The analysts warn that “slow consumption recovery and intense competition could lead to more uncertainties for China’s E-Commerce platforms (including PDD) in 2026.”

Against this backdrop, the firm says it is taking a more cautious stance. Morgan Stanley writes: “As such, we remove PDD from ‘Top Pick’.”

The bank did not alter its Overweight rating or $148 per share price target for the stock.

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China's Trip.com Probe Unlikely to Be Start of Broader Crackdown — Market Talk

Dow Jones Newswires

Fears that Chinese regulators' investigation into Trip.com will lead to a sweeping industry crackdown look overdone to DBS analyst Moxy Yuhua Ying. The probe into the online travel agency has revived memories of the 2021 regulatory crackdown that targeted China's tech sector and private education companies, the analyst says in a note. However, there is a key difference: Ying notes that the Trip.com action is aimed at rectifying specific operational misconduct under China's ongoing campaign to reduce excess competition. By contrast, the 2021 overhaul was driven by a push to curb disorderly expansion of capital. Though the Trip.com probe could hurt market sentiment near term, prompting investors to book profit, "it is too early to conclude that it's the end of the current bull cycle."(sherry.qin@wsj.com)

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Trip.com Stock Tumbles as It Faces China Antitrust Probe

Dow Jones Newswires

By Jiahui Huang

Trip.com's stock fell sharply in Hong Kong after China's top market regulator said it is investigating the online travel giant for possible antitrust violations.

Shares of the online travel agency, one of China's largest, slumped 20% on Thursday to 456.80 Hong Kong dollars, equivalent to US$58.58, on track for a record percentage drop. The company's American depositary receipts dropped 17% overnight in the U.S.

China's State Administration for Market Regulation on Wednesday said it had begun a probe into Trip.com following initial investigations. The regulator alleged that the online travel agency abused its dominant market position and engaged in monopolistic practices.

The company later said it received a notice of investigation from the regulator and will actively cooperate with the probe. Its operations remain normal, Trip.com said.

Analysts at Nomura said the investigation could have been prompted by hoteliers' concerns about Trip.com's interference in pricing and, in some instances, its insistence on maintaining the lowest hotel-room prices compared with those offered on other travel platforms.

Under the law, entities that abuse their dominant position are subject to a fine of 1% to 10% of their revenue in the previous year, Citi analysts said in a research note. That implies a potential fine of 490 million yuan to 4.9 billion yuan, equivalent to about $70 million to $700 million, for Trip.com, according to Citi's calculations.

Nomura said the probe is unlikely to undermine Trip.com's dominant position in the Chinese market fundamentally. However, it could weaken the company's hold over hotels, particularly independent ones that often rely on online travel agencies for customer traffic, it wrote in a note.

Write to Jiahui Huang at jiahui.huang@wsj.com

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Trip.com Could Face Penalties in Antimonopoly Probe — Market Talk

Dow Jones Newswires

Trip.com could face penalties if it violates China's antimonopoly law, Citi analysts say in a research note. China's top market regulator said an investigation into Trip.com's alleged antitrust conduct is under way. The probe could be related to previous investigations by local regulators into Trip.com's intervention in hotel pricing, the analysts say. Entities that abuse their dominant market position could be fined 1%-10% of their revenue in the previous year, they note, citing Chinese law. That implies a potential fine of 490 million yuan to 4.9 billion yuan for the online travel giant, according to Citi's calculations. While the probe could weigh on investor sentiment, it is unlikely to change Trip.com's dominant position in the industry, the analysts add. Its H shares are down 18% at HK$465.00. (sherry.qin@wsj.com)

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Exxon Mobil, LyondellBasell among market cap stock movers on Wednesday

Investing.com

Information Services Group

Wednesday’s market has seen swings in various stocks based on news and other factors. Today, stocks like Exxon Mobil and LyondellBasell are rallying, while stocks like AppLovin and Ctrip.com International are falling. Below are highlights of some of the biggest stock movers, from mega-caps to small caps.

Mega-Cap Movers ($200B+ Market Cap)

AppLovin (APP); Evercore ISI initiates AppLovin stock with Outperform rating, $835 target; -9.17%
Shopify Inc (SHOP) -6.62%
Oracle Corp (ORCL) -4.98%
Wells Fargo (WFC) -4.83%
Avago Technologies (AVGO) -4.65%
Bank Of America (BAC) -4.13%
Citigroup (C) -3.79%
Lam Research Corp (LRCX) -3.21%
Exxon Mobil (XOM) +3.42%
Philip Morris Intl (PM) +3.03%

Large-Cap Stock Movers ($10B-$200B Market Cap)

Ctrip.com International (TCOM) -17.84%
Unity Software Inc (U) -9.17%
Rivian Automotive (RIVN); Rivian stock rating downgraded to Sell by UBS on high expectations; -9.05%
Lumentum Holdings Inc (LITE) -8.26%
Amkor Technology (AMKR) -7.82%
Intuit (INTU) -6.64%
Airbnb Inc (ABNB) -6.58%
Astera Labs (ALAB) -6.49%
LyondellBasell Industries NV (LYB) +7.42%
Fortress Value Acquisition Corp (MP) +7.41%

Mid-Cap Stock Movers ($2B-$10B Market Cap)

TryHard Holdings (THH); TryHard Holdings secures $25 million equity purchase agreement; -50.5%
Impinj Inc (PI) -11.25%
VPC Impact Acquisition Holdings III (DAVE) -10.7%
Navan Inc (NAVN) -9.91%
Via Transportation Ltd (VIA) -9.53%
Erasca (ERAS) +11.41%
Uranium Energy Corp (UEC) +12.19%
Terns Pharmaceuticals (TERN) +9.78%
Viking Therapeutics Inc (VKTX) +14.66%
Blue Safari Group Acquisition Corp (BTDR) +15.0%

Small-Cap Stock Movers ($300M-$2B Market Cap)

WeShop Holdings Ltd (WSHP) +104.08%
Rich Sparkle Holdings (ANPA) +76.17%
Sizzle Acquisition (CRML) +33.71%
Ambitions Enterprise Management Co (AHMA) +20.02%
AMN Healthcare Services Inc (AMN) +18.08%
Healthcare Capital (DRTS) +16.16%
Bctg Acquisition Corp (TNGX) +15.33%
Cerus Corp (CERS) +14.88%
Longview Acquisition (BFLY) +12.61%
Velo3D (VELO) -12.42%

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Trip.com Stock Faces Months Of Uncertainty As Regulators Circle, JPMorgan Warns

Stocktwits

JPMorgan expects continued pressure on Trip.com Group (TCOM) stock in coming sessions as investors adjust expectations to factor in potential fines and a prolonged period of regulatory scrutiny.

The travel booking giant’s stock declined sharply on Wednesday after Chinese regulators launched a formal antitrust investigation into the company for allegedly abusing its market dominance.

Analyst Rationale

According to JP Morgan, Trip.com’s share price may linger in a range-bound pattern for the next four to six months as the antitrust case unfolds and new developments emerge only gradually, according to TheFly.

While JPMorgan maintained an ‘Overweight’ rating on Trip.com’s stock, the firm cautioned that a possible penalty from Chinese authorities could include a meaningful cash fine.

At the time of writing, TCOM stock traded over 16% lower on Wednesday mid-morning. On Stocktwits, retail sentiment around the stock changed to ‘bullish’ from ‘neutral’ territory the previous day. Message volume shifted to ‘extremely high’ from ‘high’ levels in 24 hours.

Antitrust Inquiry

Trip.com said on Wednesday that China’s State Administration for Market Regulation (SAMR) has begun a probe into it under the nation’s Anti-Monopoly Law, focusing on the company’s business conduct.

According to a Reuters report, the SAMR’s case was initiated after preliminary checks into whether Trip.com may have leveraged its market position in ways that might suppress fair competition.

According to Jefferies, prior antitrust investigations involving companies such as Alibaba and ArcelorMittal typically lasted several months before regulators issued a final decision. Penalties in those cases generally represented a low single-digit percentage of the companies’ domestic revenue from the previous year, the firm noted.

TCOM stock has declined over 1% in the last 12 months.

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