Facebook Established a Subsidiary Named Lianshu Science & Technology
Hangzhou, Zhejiang, China
On July 18, Facebook established a subsidiary named Lianshu Science & Technology in Hangzhou City, China, with $30 million of capital. All its shares are held by Facebook Hong. Approval of the registration of the subsidiary was then withdrawn, due to a disagreement between officials in Zhejiang province and the Cyberspace Administration of China.