Facebook Sets up Subsidiary in China, Where It's Blocked

Associated Press |


NEW YORK (AP) — Facebook  (FB) is blocked in China but it's still setting up a subsidiary in the world's most populous country.

The company says it wants to set up an "innovation hub" in Zhejiang to support Chinese developers, innovators and startups. It has done the same elsewhere, including France, Brazil, South Korea and India. But it is not blocked in those countries.

Facebook said on Tuesday that the subsidiary will focus on training and workshops for developers and entrepreneurs.

According to The Washington Post, a filing published on China's National Enterprise Credit Information Publicity System listed the company as Facebook Technology (Hangzhou) Co. The filing, which is no longer accessible, noted that the company is owned by Facebook Hong Kong Ltd. It has registered capital of $30 million.

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Symbol Name Price Change % Volume
FB Facebook Inc. 150.04 1.74 1.17 31,029,612 Trade

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