December 30, 2016
After tighter regulations on car-hailing apps, regulators are making the Airbnb-style homestay business their latest booming internet-related target. Zhejiang province in East China became the first provincial government to rein in the burgeoning industry, which will be worth an estimated 100 million yuan ($14.4 million) in 2017 according to a report by consulting firm iResearch. The coastal province, home to China’s internet magnet Alibaba and known for its entrepreneurial environment, will restrict the size of houses that are used in the Airbnb-style business and raise security standards….