San Francisco, July 25: Facebook has set up a subsidiary in China to build an “innovation hub” focused on helping local developers and entrepreneurs to innovate and grow, the media reported.
Facebook’s application for the China subsidiary in the Zhejiang province was approved on July 18, CNBC reported on Tuesday citing a filing with the country’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,” a Facebook spokesperson was quoted as saying. According to a report in Mashable, the subsidiary is entirely owned by Facebook, meaning it did not have to partner with popular Chinese social media sites Weibo or WeChat to get approval.
Facebook has similar hubs in other countries including India, France and Brazil. (IANS)