This website requires JavaScript.
E-Commerce

Big News! Facebook Sets Up Subsidiary in China!

Jul 24, 2018 by Chauncey Jung
Big News! Facebook Sets Up Subsidiary in China!

Social networking czar Facebook is believed to have registered an independent company in China.

A report from financial portal IFeng IMarket suggests that a company named Facebook Technology (Hanghzou) Co. Ltd was registered in Hangzhou on July 18th, 2018.

The company has a starting fund of USD 30 million and is fully owned by Facebook Hong Kong Limited.

Earlier in 2017, two sources from Facebook disclosed the company’s intention to step into the Chinese market.

The social media hegemon was secretly seeking business offices in Shanghai.

According to sources, the China office will be ready for employees working on hardware development and China-related businesses.

Despite Facebook’s serious interest to enter the Chinese market, the company’s two main products, Facebook and Instagram, remain blocked by the Great Chinese Firewall.

Mainland Chinese Internet users cannot access the two social networking sites without a working proxy.

Facebook CEO Mark Zuckerberg made numerous attempts to iron out the tensions with the Chinese government.

As of today, there is no sign of Facebook and Instagram having been unblocked.

Facebook was blocked in 2009 after activists allegedly used the social networking site as a communication tool during the Urumqi Riots in Xinjiang.

Similarly, Instagram was proscribed in 2014 after the “Occupying Central” protests against the Chinese central government in Hong Kong.

According to the New York Times, Facebook has serious business interests in China as the company sells ads.

A potential office in China could help Facebook engage with local Chinese companies and businesses partners.

It is also important to note that not all Facebook products are blocked in China.

Colorful Balloons, a photo-sharing app developed by Facebook Inc, remains unblocked in Chinese ios App Store.

With some hopes to expand its business further in China, Facebook seems set to engage in some serious businesses in the most populated country in the world.

Chauncey Jung

Chauncey Jung works with a unicorn Internet firm based out of Beijing. In his earlier stint with Sohu, a lead online-news platform headquartered in Beijing, Chanucey wrote in English on various subjects, spanning from culture, politics to social changes. His professional experience pays him off an insider perspective over China's internet industry. Completed his bachelor and master education in Canada, Chauncey is obsessed with trending technologies and economic developments across Asia. He can be reached at chaunceyzhang@foxmail.com

Follow Chauncey Jung