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Dennis Oldfield, general manager of the Grand Mercure Beijing Central in Xicheng district, said "red wall consciousness" encompasses integrity, loyalty and taking responsibility, and that's "something which is very strong in China over the years that I've been here".

Democratic US presidential candidate Joe Biden smiles as former Secretary of State and 2016 Democratic presidential nominee Hillary Clinton endorses him for president in a video screengrab made during an online town hall about the impact of COVID-19 disease on women run from Biden's home in Wilmington, Delaware, US April 28, 2020. [Photo/Agencies]

Demand for China-Europe freight trains has shown strong momentum as the country's economy has gradually recovered from the fallout of the COVID-19 epidemic.

Despite the market size and the rising domestic demand, there is no clear leader in the Chinese corporate travel industry. Over the past three years, the top five industry leaders only took up 17.5 percent of the total market share, while the number is over 50 percent in mature markets, said Fang Jiqin, chief executive officer of Ctrip Corporate Travel.

Despite its lofty goals and rhetoric, WeWork never developed a clear path to profitability. The company leased and renovated buildings worldwide, but cost always outstripped income. In November, it said losses totaled .7 billion. The company's valuation shrank to about .8 billion.