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Facebook To Open Subsidiary In China To Invest In Start-Ups

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Facebook To Open Subsidiary In China To Invest In Start-Ups
The company has been trying to break into the Chinese market since being banned in 2009.
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Facebook is reportedly opening a subsidiary in China. The company has been trying to break into the Chinese market since being banned in 2009.

The subsidiary won't run the social media site in China, though. A Facebook spokeswoman told news outlets the subsidiary would be an "innovation hub." The goal would be to invest in and support start-ups.

Since Facebook was banned in China, CEO Mark Zuckerberg has made regaining access to the censored Chinese internet a priority. He's learned Mandarin, met with President Xi Jinping and made regular trips to the country over the years.