Facebook successful in breaking through China's social media ban

China pulls approval for Facebook's planned venture - NYT

China pulls approval for Facebook's planned venture - NYT

The hub will offer training and workshops to help developers and entrepreneurs in the region innovate and grow, a Facebook spokeswoman said in a statement, and is similar to centers the company has established in countries including France, Brazil, and India.

Facebook's main social network remains banned in China.

An alternate explanation for the reversal, is that Facebook has been caught up in part of the ongoing trade war between the USA and China, which began in earnest a few weeks ago when the White House imposed tariffs on $50 billion of goods imported from China.

The local government had given its OK but the Cyberspace Administration of China, the nation's internet regulator, reportedly had not been consulted - and reversed its decision, according to The New York Times.

Facebook's shares fell by nearly 24 percent in after-hours trading, as a result of the company reporting that the growth of revenue has been slowing down.

Just a day after Facebook gained approval to open a subsidiary in China, a major setback has hit the platform as China has withdrawn its approval for the new Facebook venture. Facebook wants to support Chinese developers, startups, and innovators.

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The Chinese internet regulator was not immediately available for comment.

"I don't think it means anything new for USA tech firms trying to enter China", he said.

Despite these efforts, Facebook seems to have further angered Chinese officials, which will nearly certainly make any progress even more unlikely.

Shares of Facebook fell as much as 24 percent in after-hours trading on Wednesday after the company reported slowing revenue growth amid larger expenses to address concerns over privacy and security of user data.

Google has more recently made inroads into the Chinese market by opening an artificial intelligence centre and launching a game.

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