Facebook is planning to launch an innovation hub in China as a means of engaging with the country’s tech talent whilst expanding the brand’s exposure to the highly-coveted domestic market.
The hub, to be located in Hangzhou alongside the headquarters of Alibaba Group, will give training and workshops to local tech entrepreneurs as a means of investing in the region’s human capital, said a company spokeswoman.
In the filing to state regulators, Facebook listed its Hong Kong entity as the sole shareholder of the subsidiary with the head of its Asia-Pac legal team Damian Yeo as chair. The project’s budget is $30 million, according to the Wall Street Journal.
Facebook has been actively searching for alternative routes into China since its social network business was blocked by the authorities in 2009. In addition to frequent personal appearances by founder Mark Zuckerberg at China-based conferences and events, Facebook has also worked with Xiaomi in producing a virtual reality headset for the Chinese market.
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