Business

China withdraws approval for Facebook innovation hub

It’s easy come, easy go for social media maestro Mark Zuckerberg.

Zuckerberg, one day after believing Facebook was making inroads in China, got the door slammed in his face when Beijing withdrew its approval for the social network to open an innovation hub in the country.

The $30 million subsidiary would have been located in Zhejiang province with plans to make local investments as well as to provide advice to businesses.

The local government had given its OK but the Cyberspace Administration of China, the nation’s internet regulator, reportedly had not been consulted — and reversed its decision, according to The New York Times.

Facebook has been banned in China since 2009.





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