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WeWork Partners With Zhima Credit to Offer Deposit-Free Office Spaces in China

WeWork has been expanding its presence vigorously in the increasingly competitive China market. Photo:VCG
WeWork has been expanding its presence vigorously in the increasingly competitive China market. Photo:VCG

Shared-workspace provider WeWork is teaming up with Alibaba-backed credit-scoring platform Zhima Credit to provide deposit-free office spaces in China.

The partnership shows the New York City-based company’s ambition to accelerate its expansion in China, where it faces fierce competition from local rivals.

The newly launched initiative, applying to both current WeWork members and potential clients, will allow those with a credit score above 1,350 points with Zhima Credit to be eligible for a deposit reduction or a maximum deposit waiver of 100,000 yuan ($15,800) when they lease WeWork spaces, WeWork and Zhima Credit announced Monday.

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