Economy

Facebook sets up subsidiary in China, where it's blocked

Facebook sets up subsidiary in China, where it's blocked

Its venture in China was similar to what it did in other countries: Station F in France, Estacao Hack in Brazil, Tech Hub launch in India and Innovation Hub in Korea.

The incident also illustrates how hard it can be for a US company to navigate the government bureaucracy in a country where so many technology firms have tried and failed.

Notably, China is not the only country where the company is setting up an incubator to train the local entrepreneurs and developers.

According to the report, the new company, fully owned by Facebook Hong Kong Limited, completed the business registration this month at the local government of Hangzhou, where Chinese ecommerce giant Alibaba is headquartered.

The subsidiary was backed by a $30 million investment, according to the New York Times.

The app never took off, marking another setback in China for Facebook. He said Facebook was working on products for China "over the long term", but added: "We need to figure out a solution that is in line with our principles and what we want to do, and in line with the laws there, or else it's not going to happen".

Our technologies are long time away from doing anything in China that told by Zuckerberg on news site Recode.

More news: China refutes USA allegations of currency manipulation

Facebook is blocked in China.

Facebook has always been keen to get back into China, which blocked access to the platform in 2009. China is the world's biggest social market of media.

Oculus, Facebook's virtual reality company, has a Shanghai office, and the company is interested in China for its growing hardware ambitions.

If Facebook started introducing services in China, it would probably face questions about whether to censor content or share data with Beijing.

Facebook aims to set up the base in eastern Zhejiang province, the California-based company, whose social media site is blocked in China, said in a statement.

During the past two years, censorship controls have hardened under President Xi Jinping's administration and this has left the Silicon Valley internet behemoths looking for new ways to enter the sector without being wrapped up in regulatory red tape. Image Source: Mark Zuckerberg facebook.


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