Facebook Gains China Office As It Loses China FaceJuly 8, 2014 | Print | Comments | Category: Internet, Law & Policy
U.S. social networking giant Facebook has reportedly signed a lease for office space in Beijing, even though the website has been blocked in the country for at least five years.
The office at Fortune Financial Center in Chaoyang district comprises 800 square meters, according to local media reports. In China, acquiring an office lease is a mandatory first step in acquiring an operating business license.
But it is still unknown what type of corporate entity Facebook will eventually create, or if it will forge a variable interest equity entity relationship with a local Chinese firm. Facebook relies on advertising for much of its global revenue, but Facebook can not acquire an advertising license in China. It must most likely work with a local Chinese advertising firm instead.
Though the site is blocked in China and realistically will not be unblocked any time soon, the company is courting app developers in China.
Leave A Comment:
- CNNIC Report: 27.9% Of Chinese Netizens Live In Rural Areas
- How Does Alibaba's Data Pact Impact Chinese Retention Laws?
- Chinese Government Statistics Show Internet Retail's Fast Growth
- Vietnamese Government Cancels Foxconn's Mobile Phone Plans
- Jack Ma Selected Co-chairman Of Global Internet Governance Alliance Council