BEIJING/PALO ALTO, U.S. -- Facebook has registered a Chinese subsidiary, sparking speculation the social media giant is preparing a full-scale push into the world's most populous market, where its namesake service remains blocked.
Lianshu Science & Technology (Hangzhou) was established with registered capital of $30 million, all from Facebook Hongkong, according to a filing on the National Enterprise Credit Information Publicity System. The city of Hangzhou is home to many of China's major internet companies, including Alibaba Group Holding.
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