WeWork Expands in China

American shared workspace company WeWork has announced the establishment of a standalone WeWork China business, backed by a US$500 million investment from backers including SoftBank and Hony Capital. WeWork currently operates in eight locations in China, including Beijing, Shanghai and Hong Kong. The money it raised from this investment round will be used to expand its presence in those cities and move into other key Chinese cities. “Since coming to China only a year ago, we’ve been able to establish a vibrant community of creators and companies — and we’ve only just begun,” states WeWork CEO Adam Neumann.

Shanghai Business Review is the leading English language website and print magazine for business leaders conducting business in China.