US social media giant Facebook has finally moved into China by setting up a subsidiary in the country, a move widely viewed as to ramp up its presence there although its social media sites remain blocked.
Facebook has opened an office in Hangzhou, home to the e-commece giant Alibaba, with a registered capital of US$30 million, according to the record of China’s National Enterprise Credit Information Publicity System.
“We are interested in setting up an innovation hub in Zhejiang to support Chinese developers, innovators and start-ups," the company said in an email, "We have done this . . .
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