Facebook Sets Up Subsidiary in China

Facebook has set up a subsidiary in China with registered capital of $30 million (roughly Rs. 206 crores), a filing on China's National Enterprise Credit Information Publicity System showed.

The filing listed Facebook Hongkong Ltd and no other entities as a shareholder. Facebook's application for the subsidiary was approved on July 18, according to a filing seen by Reuters on Tuesday, but it was not clear when the filing was published.

The subsidiary's operations will include network information technology development and related services, investment consultancy and marketing planning, the filing said without elaborating further.

Developing story...

© Thomson Reuters 2018