https://qz.com/1336202/facebook-has-set-up-a-subsidiary-in-china/

Facebook has set up a subsidiary in China, Reuters reported July 24. Although its platforms are banned in the country, its 1.3 billion residents represent a vast potential market for the company.

Facebook’s goal is to launch an “innovation hub” that supports startups and developers, according to Reuters. The subsidiary is reportedly registered in Hangzhou, a city in eastern China with a vibrant tech sector, including the headquarters of e-commerce giant Alibaba.