A detractor among individual stocks was Ctrip.com International (CTRP, Financial), a travel booking site. Weakened sentiment on outbound travel from mainland China to Hong Kong and Taiwan due to the Hong Kong protests and government restrictions on individual travel to Taiwan dampened the company's near-term growth prospects. However, we continue to like the company's long-term prospects. Increased demand for travel services is a long-term, secular trend in China and Ctrip continues to diversify its revenue sources in catering to both increasing domestic as well as global travel among Chinese consumers.
From Matthews China Fund (Trades, Portfolio)'s third-quarter 2019 commentary.
