Facebook sets up subsidiary in China for innovation hub

Photo of Facebook sets up subsidiary in China for innovation hub
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A giant logo is seen at Facebook's headquarters in London. Facebook is opening a new office, providing an extra 800 jobs.(Reuters) — Facebook has set up a subsidiary in China and plans to create an “innovation hub” to support local start-ups and developers, the social media company said on Tuesday, ramping up its presence in the restrictive market where its social media sites remain blocked. The subsidiary is registered in Hangzhou, home of e-commerce giant Ali…
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