[File photo]

On Oct. 26, Airbnb signed a memo of strategic cooperation with Expo Bureau of China Free Trade Zone in Shanghai.

Airbnb aims to promote the city's Pudong district, a symbol of China’s openness to the world. By introducing the traditional culture of Shanghai on an internationalized platform and relying on local resources, Airbnb will enhance the communication between Shanghai and other countries.

Airbnb’s ambition for China goes beyond providing short-term rentals for Chinese tourists abroad. The company also hopes to get further into the Chinese market, changing its strategy from discovering existing resources to mining brand new resources.

Founded in 2008, Airbnb didn’t enter the Chinese Mainland until 2015. Once it arrived in China, few people expected that it would see particularly speedly growth. Airbnb had to compete with domestic companies, which occupied considerable market shares.

Among these domestic alternatives, Tujia has recently been dominating the Chinese market. In June the company announced its cooperation with Mayi, a short-term rental enterprise. In October, Tujia expanded through mergers with Ctrip and Qunar, two other Chinese travel websites.

Yang Yanfeng, associate professor at China Tourism Academy, commented that the mergers consolidated Tujia's dominance in the domestic market.

Starting from September, Airbnb announced cooperation with Shenzhen, Chongqing and Shanghai. Additionally, Airbnb offered 15 positions for Chinese employees, making China its largest recruitment market globally.