China withdraws approval for Facebook’s much vaunted venture
Whether the move is trade-war or free-speech related is unclear, but Facebook says the setback will not change its approach to working in and with China
Bengaluru — China has withdrawn its approval for Facebook’s much-reported plan to open a venture in the eastern province of Zhejiang, the New York Times reported on Wednesday, citing a person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 ...
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