Airbnb is moving out of China.

Starting July 30, the U.S. online rental marketplace will shut down all its listings and experiences on the Chinese mainland but will keep operating its outbound travel business. The company said the decision was made "in the face of the challenges of the pandemic." However, during the same period, Airbnb's local competitors have grown fast.

So, is the reason behind the move that simple? And after seven years of effort, why do Airbnb's bookings in China only account for about 1 percent of its overall revenue? Check out the video to find out more.

Cameraman: Qi Jianqiang

Video editor: Qi Jianqiang, Zhao Yuxiang

3D designer: Pan Yongzhe

Cover designer: Yin Yating

Chief editor: Wu Gang, Qin Xiaohu

Producer: Wen Yaru

Director: Zhang Shilei

Supervisor: Fan Yun