Stock in Focus: China Wants Facebook (NASDAQ FB), Government Doesn’t

Facebook Inc (NASDAQ FB) is banned in China by the regulators. The ban is not very much appreciated by the consumers, who wish to use this social networking service for the benefits it offers. The huge popularity of the social networker led consumers to check with Facebook professionals (whenever they visit China), when they could access the services in the country.

Recently, the Vice President of Facebook, Vaughan Smith was on a visit to the Tianjin city of China. He was there to attend a conference sponsored by the World Economic Forum. At the conference, he said that whenever he visits China he is asked the same question by users. “They all come to me and say, ‘Hey, when is Facebook going to come to China?”

No information has been given by Smith over when he sees Facebook entering China. Previously, Smith told that the exporters of China were able to reach global markets with the help of Facebook’s services. Asia is seen as a huge market for Facebook with lots of potential. The user base is growing at a faster rate than in the U.S. and Canada.

Facebook Inc: Facebook in China

Since 2009, Facebook Inc (NASDAQ FB) lovers in China had to use proxy servers for accessing it since 2009. Since its site is inaccessible, therefore, the marketing services it provides can be sold only to the exporters. It has been told by the minister of China’s Cyberspace Administration, Lu Wei to the state-run media that the access to Facebook will not be provided anytime sooner.

China has the world’s largest number of internet users and Facebook Inc (NASDAQ FB) could benefit substantially from this. China has substantial legal and regulatory complexities, and this has been a barrier to its entry in China since past many years, as informed by the social networker before in its 2012 listing.

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Facebook Inc (NASDAQ FB) Business News

The restrictions imposed are not only for Facebook Inc (NASDAQ FB), but for other foreign internet firms also. These restrictions are imposed as the local authorities believe that these companies could harm national interest of China. Hence, the Chinese government requires these companies to follow local rules and respect national sovereignty.

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