Xiaozhu denies its in acquisition talks with Airbnb
CEO of Chinese home-sharing company Xiaozhu, Chen Chi, has scotched rumours that the firm was in merger talks with US rival Airbnb. Speaking at the Boao Forum for Asia, Chen said the firms' discussions on possible cooperation did not extend to capital and that given the size of the Chinese market they wanted to operate independently.

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.