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Chinese govt nixes Facebook’s plans to open innovation hub: report
- Thursday | 26th July, 2018
A Chinese government database showed that Facebook had gained approval to open a subsidiary. US chipmaker Qualcomm’s proposed bid to buy NXP Semiconductors NV has also got stuck awaiting approval from Chinese regulators. Facebook said on Tuesday it planned to create an “innovation hub” to support local start-ups. (Reuters) – The Chinese government has withdrawn its approval for Facebook’s plan to open a venture in the eastern province of Zhejiang, the New York Times reported on Wednesday, citing a person familiar with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. The Chinese internet regulator was not immediately available for comment.
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