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:
- Nokia's Beijing Factory May Cut 3,000 Employees
- Midea Predicts Profit Up 50% As Alibaba Cloud Strategy Takes Hold
- Suning Launches Crowdsourcing Services For Chinese Hardware Startups
- Letv.com Establishes New Beijing Company For Mobile Phone Development
- HTC Reports Net Profit Of NTD2.76 Billion In Q2 2014
- Hon Hai Signs Five New Big Data Projects In Guizhou
- China's Qihoo 360 Targets Silicon Valley Venture Capital
- China Post Invests CNY100 Million In Mobile Payment Services
- China's Aliyun Forms Cloud Computing Partnership With Inspur
- Tencent Cloud Opens Outside Mainland China While Foreign Tech Still Blocked Inside Country