Bengaluru — China has withdrawn its approval for Facebook’s much-reported plan to open a venture in the eastern province of Zhejiang, the New York Times reported on Wednesday, citing a person familiar with the matter. A Chinese government database showed that Facebook had gained approval to open a subsidiary, but the registration has since disappeared, according to checks made by Reuters. The move is a setback for Facebook, which has been struggling to gain a foothold in China, the most populous country in the world, where its website and messaging app Whatsapp remain blocked. And it makes the social networking company the latest to get caught in the middle of US-China trade tensions. US chip maker Qualcomm’s deal to buy NXP Semiconductors has yet to win approval from Chinese regulators, the only holdout from eight of nine global regulators required to approve the deal. The companies have said they will call off the deal if they do not win China approval. "If China blocks this move ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now