Facebook opens a subsidiary in China, a breakthrough for the banned social media platform

After years of being banned, Facebook will now be allowed in China — sort of. The company has obtained a license to open an office in China, which is a major breakthrough considering the social media network is still censored for most residents.
The office will be a $30 million subsidiary called Facebook Technology (Hangzhou), located in the city Hangzhou, which is also the headquarters of Alibaba. Facebook will be running a startup incubator that will make small investments and give advi