Facebook sets up subsidiary in China

Facebook has set up a subsidiary in China with registered capital of $30 million, a filing on China`s National Enterprise Credit Information Publicity System showed. 

Facebook sets up subsidiary in China
Facebook has set up a subsidiary in China with registered capital of $30 million. Image source: Reuters

Facebook has set up a subsidiary in China with registered capital of $30 million, 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. 

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Written By: Reuters
Updated: Tue, Jul 24, 2018
05:22 PM IST
Reuters
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