Facebook Sets Up China Subsidiary to Build Innovation Hub
- Blocked since ‘09, company has tried to appease the government
- Tech center would be similar to others in France, Brazil
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Facebook Inc.’s apps and websites are still blocked in China, but that’s not stopping the social media giant from trying to open a center in the country to support local startups.
Facebook set up a Chinese subsidiary, Facebook Technology (Hang Zhou) Ltd., earlier this month, according to a filing with the National Enterprise Credit Information Publicity System. The subsidiary, which was approved July 18, has registered capital of $30 million, according to the filing.