Watch CBS News

Airbnb ends rentals in China as country doubles down on "zero-COVID" strategy

China's COVID lockdowns hit economy
China's "zero-COVID" policy and strict lockdowns slow economy 03:47

Airbnb announced Tuesday that it will stop listing short-term rental properties in China and instead focus its business there on serving Chinese tourists looking for lodgings abroad.

Airbnb joins a series of foreign internet companies, including Yahoo and eBay, that pulled out of China after running into fierce local competition and regulatory barriers.

"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.

China rejects World Health Organization's criticism of "zero-COVID" strategy 03:13

The Chinese government has blocked foreign tourists from visiting since the COVID-19 pandemic erupted in early 2020, and officials have told the Chinese public to avoid foreign travel that isn't essential for business or study. 

China has doubled down on its "zero-COVID" strategy that's forced millions to stay isolated in their homes and are causing labor shortages and broken supply lines, and U.S. companies have warned they will cost both China's and the world's economy billions of dollars.

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.