Jul 24, 2018
Facebook plans office in China
Facebook has secured a licence to set up an office in China in an apparent attempt to break into the lucrative market where its website is blocked. If the office opens, it would be the firm's first formal presence in China. China is the world's biggest social media market, but access to websites such as Twitter, Facebook and YouTube is blocked in the country. The Facebook subsidiary has been registered in the southern China city of Hangzhou and financed with an investment of £30m, according to the details of the filing, which were seen by Reuters and the New York Times on China's National Enterprise Credit Information, before they were removed. The social media giant said the office in China would be the same as hubs it has set up elsewhere, such as in France, Brazil, India and South Korea.
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