Chinese President Xi Jinping, left, talks with Facebook Chief Executive Mark Zuckerberg Ted S. Warren-Pool/Getty Images Facebook is dipping its toe in the…
Chinese President Xi Jinping, left, talks with Facebook Chief Executive Mark Zuckerberg
Ted S. Warren-Pool/Getty Images
Facebook is dipping its toe in the water in China.
The US social networking giant has set up a subsidiary in China, according to an official business registration, hinting that it may be ramping up its presence in the restrictive country where its social media sites remain blocked.
In a statement, a spokesperson said the company was launching an „innovation hub“ to support local developers.
The subsidiary, which has $30 million in registered capital, is registered in Hangzhou, home of e-commerce giant Alibaba Group Holding Ltd, according to a filing approved on China’s National Enterprise Credit Information Publicity System last week and seen by Reuters on Tuesday.
„We are interested in setting up an innovation hub in Zhejiang to support Chinese developers, innovators and start-ups,“ a Facebook representative said via email.
Facebook’s website remains blocked in China, which strictly censors foreign news outlets, search engines and social media including content from Twitter and Google .
Having a wholly foreign-owned enterprise in China does not change Facebook’s approach in the country, the company said, adding that it was still learning different approaches on what it takes to be in China.
