U.S.-based co-working space operator WeWork will partner with SoftBank Group and China-focused private equity firm Hony Capital to invest US$500 million to establish WeWork China. The new platform will enable WeWork to expand its operations into new cities in China and increase its current footprint in Beijing, Hong Kong and Shanghai. WeWork will be responsible for management and operations of WeWork China, while SoftBank and Hony Capital will each own a minority stake in the venture.