Chinese home-sharing company Xiaozhu Inc denied a media report that it was in acquisition talks with its US counterpart, Airbnb Inc. Chen Chi, CEO of Xiaozhu, said on Saturday the two sides are in discussions for possible cooperation, but the talks never extended to the capital area. "We want to operate independently. After all, the Chinese market is so huge and we want to get deeply involved in the industry and come up with new innovations," Chen said at the sidelines of the Boao Forum for Asia.
CEO of Chinese home-sharing company Xiaozhu, Chen Chi, has scotched rumours that the firm was in merger talks with US rival Airbnb. The two companies have been locked in a fierce battle for market share since they launched their services last year.