Facebook opens a subsidiary in China, a breakthrough for the banned social media platform

After years of being banned, Facebook will now be allowed in China — sort of. The company has obtained a license to open an office in China, which is a major breakthrough considering the social media network is still censored for most residents.

The office will be a $30 million subsidiary called Facebook Technology (Hangzhou), located in the city Hangzhou, which is also the headquarters of Alibaba. Facebook will be running a startup incubator that will make small investments and give advice to local businesses, an anonymous source told Reuters.

The subsidiary is listed as wholly owned by Facebook Hong Kong Limited, according to Reuters, which read the business filing that has since been removed. Facebook does have a sales office in Hong...

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