Airbnb currently holds 7% of the Chinese home-sharing market, dwarfed by domestic giants Tujia and Xiaozhu, who together account for nearly half of the market.

Compared with other regions, homesharing in China is relatively small, representing 5% of the lodging industry, and mainly finding favour among millennial homeowners.

Xiaozhu is also pushing to challenge Airbnb outside China.

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