Kelvin Chen says Xiaozhu is communicating with authorities to ensure compliance with industry regulations. Photo: Simon Song Chinese banks are diversifying their income channels when growth of mortgage loans, a boost to profitability last year, is set to lose steam this year against housing tightening in major cities, analysts said. A man walks through a cloud of dust whipped up by wind at the construction site near newly erected office skyscrapers in Beijing. Developers are turning to alternative financing models. Photo: Reuters Homelink is the mainland’s biggest estate agent with more than 8,000 outlets across the country. Photo: Simon Song Home-sharing start-up Xiaozhu, often dubbed “China’s Airbnb” due to its similar business model, is looking at business travellers to boost the company’s growth in China’s short-term home-rental market.
On Wednesday, Xiaozhu chief executive Kelvin Chen Chi said that the company would be carving out a new segment of homes that are specifically targeted at fulfilling the needs of employees on business trips. Xiaozhu logo “Over 15 per cent of our bookings are for business travel purposes,” Chen said during an interview in Shenzhen.
“Sometimes employees need to stay in a city for two to three months to work on a project, […]