Home rental platform Airbnb will stop offering properties for rent in China and will from now on focus on Chinese tourists who want to rent a house elsewhere in the world. This is what sources in the American company, the business channel CNBC, tell CNBC.
According to insiders, the Chinese show will end this summer. Airbnb has been offering properties for rent in China since 2016, but the company is facing hard times there due to the coronavirus pandemic.
In addition, the company has to deal with the increasing competition in China. Incidentally, rent in China accounts for only about 1 percent of Airbnb sales.
CNBC said the San Francisco company will maintain an office in Beijing with hundreds of employees to help Chinese travelers looking to rent a home elsewhere in the world.
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