Company: TCOM
Filing Date: 2025-01-06
Form Type: CORRESP
Source: 0001193125-25-001781
Chunk: 2

Company: Trip.com Group Ltd
Filing Date: 2025-01-06
Form: CORRESP
Chunk 2
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Division of Corporation Finance

Office of Trade & Services

Securities and Exchange
Commission

January 6, 2025

Page
4

In the opinion of our PRC legal counsel, Commerce & Finance Law
Offices, our current ownership structure, the ownership structure of our subsidiaries and the VIE structure, and the contractual arrangements among us, our subsidiaries, the VIEs and their shareholders, as described in this annual report, are in
compliance with existing PRC laws, rules, and regulations. There are, however, uncertainties regarding the interpretation and application of current or future PRC laws and regulations. Accordingly, we cannot assure you that PRC
government authorities will not ultimately take a view contrary to the opinion of our PRC legal counsel.

If we and the
VIEs are found to be in violation of any existing or future PRC laws or regulations, the governmental authorities may exercise their discretion in accordance with the applicable laws and regulations in dealing with such violation,
including, without limitation, levying fines, confiscating our income or the income of the VIEs, revoking our business licenses or the business licenses of the VIEs, requiring us and the VIEs to restructure our ownership structure or operations, and
requiring us or the VIEs to discontinue any portion or all of our value-added telecommunications or travel agency businesses. […]

[…]

Risks Relating to Doing Business in China

Adverse changes in economic and political policies of the PRC government could have a material adverse effect on the overall economic growth of China, which could adversely affect our business.

Most of our operations
are located in China. Accordingly, our business, prospects, financial condition, and results of operations may be influenced to a significant degree by political, economic and social conditions in China generally and by continued economic growth in
China as a whole.

[…]

Division of Corporation Finance

Office of Trade & Services

Securities and Exchange
Commission

January 6, 2025

Page
5

Restrictions on currency exchange may limit our ability to receive and use our revenues effectively.

Because the majority of our revenues are denominated in Renminbi, any restrictions on currency
exchange may limit our ability to use Renminbi-denominated revenues to fund our business activities outside China or to make dividend payments in U.S. dollars. The principal PRC regulation governing foreign currency exchange is the Regulations on
Administration of Foreign Exchange, as amended. Under these regulations, Renminbi is freely