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Facebook has a "realistic opportunity" to enter China in 2018, Mizuho analyst James Lee wrote in a note to clients on Tuesday.
Lee came to the conclusion after meeting "various industry contacts" in China during a recent trip. He outlined a few factors that he believes increase the likelihood of Facebook finally entering the country next year:
Facebook - Appointment - Executive - Relations - China
Facebook's recent appointment of an executive to manage relations with China will help the company "understand the regulatory requirement and negotiate Facebook's operating structure in China," said Lee in the note, a copy of which was obtained by Business Insider. Facebook recently tapped William Shuai from LinkedIn to lead government relations in the country, according to The Wall Street Journal.
be aligned with Chinese government’s policy to globalize local companies," and could finally lead to the company securing the coveted Internet Content Provider (ICP) license needed to officially do business in China. Lee estimated that Facebook already makes more than $1 billion per year from Chinese marketers that use its platform to advertise outside of China.
Approval - Airbnb - Linkedin - China - Sign
The recent approval that Airbnb and Linkedin received to operate in China is a sign that the government is "more open to internet companies that can help Chinese companies gain global recognition," according to Lee.
Chinese President Xi Jinping will begin his second term in November 2017. "Historically speaking, media scrutiny and...
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