Joining a long list of Western internet platforms that have opted out of the China market, vacation rental firm Airbnb Inc is shutting down its business in China from July 30.

Home rental service Airbnb is going to shut down its business in China from July 30

Airbnb Inc. reportedly lost $322 million in the first nine months of 2019 on rising costs, raising questions about its valuation going into an initial public offering later this year.

WION Wallet: 'Airbnb lost money in first 9 months of 2019' Reports

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Home rental service Airbnb is going to shut down its business in China from July 30

WION Wallet: 'Airbnb lost money in first 9 months of 2019' Reports