Airbnb joins a series of foreign internet companies including Yahoo Inc. and eBay Inc. that pulled out of China after running into fierce local competition and regulatory barriers.
this summer and instead focus its business in the country on serving Chinese tourists looking for lodgings abroad, a company official said on social media Tuesday.
The San Francisco-based company found the domestic Chinese business costly and complicated to run, and the pandemic has made matters worse. “We have made the difficult decision to refocus our efforts in China on outbound travel and suspend our homes and Experiences of Hosts in China, starting from July 30, 2022,” said the chief strategy officer of Airbnb China, Nathan Blecharczyk, in a statement on its social media account.
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