Airbnb didn’t specify in its announcement how much it plans to spend on a China push, but again, it’s unlikely to be cheap. Airbnb’s efforts are focused on Chinese tourists looking for places to stay around the globe, though it also offers rentals within China. The company says China is its fastest-growing outbound market, with bookings from Chinese tourists traveling outside the country increasing 700 percent in the past year. Like Uber, Airbnb has identified China as a tremendous untapped opportunity; Chinese travelers took 109 million trips in 2014, the company explains, citing data from the World Tourism Organization. “It’s clear that Airbnb is uniquely positioned to connect Chinese guest to amazing travel experiences,” Chesky writes. “And as we move into our next phase of expansion in China, we know we will need deep local knowledge and expertise to keep this momentum going.” That, of course, is where China Broadband Capital and Sequoia China will come in for Airbnb, and where Baidu is already helping out for Uber. To state the obvious, running a business in China is nothing like running it in the U.S., and American tech companies have largely either struggled to crack the tightly controlled market or chosen to keep their distance. Get the full story at Inc.com Read also "Airbnb partners with China Broadband, Sequoia to expand in China" at VentureBeat and "Airbnb on building a global company" at TechCrunch