Facebook China office exposure

SAN FRANCISCO, July 4 afternoon news, according to Bloomberg News, informed sources, Facebook has rented a property in Beijing downtown, plans to open an office in China.

Informed sources said Facebook signed a three-year contract in May this year, rented a CBD of Beijing CBD more than 800 square meters of office space. It is reported that there can be directly seen the Forbidden City, but Facebook has not yet begun with office facilities.

Although Facebook can not visit China from 2009, the company still sells ads to businesses in mainland China through its Hong Kong office. Vaughan Smith, the company's vice president, said at the Global Mobile Internet Congress in May that they had "thousands of" application developers in China.

Beijing Fortune Financial Center was developed by well-known developer Xiangjiang International and opened to tenants as higher and more expensive floors had been rented from less than 400 yuan per square meter per square meter last year, up to 500 yuan.

Financial Center Leasing has not yet immediately comment. Facebook spokesman Debbie Frost also declined to say whether the company will open an office in mainland China.

Chinese customers

"Both Chinese exporters and developers see Facebook as a great way to get in touch with overseas customers." Frost said in an emailed statement: "Today our Hong Kong sales team is responsible for supporting the business in China and we are obviously still exploring Other channels to provide more support in the future. "

The Beijing office just rented, facing north and west, is located on the 59th floor (61 floors) in this 265-meter-tall building. Employees can see the ancient Forbidden City and modern buildings such as the Bird Nest directly from the inside.

Fortune Financial Center is located in Beijing's Third Ring Road, east of the Forbidden City. HSBC, DBS Bank, and Samsung China Investment Corp. both leased their offices there. According to CBRE, CBRE revealed that it was the first new office building in Beijing CBD in the recent seven quarters.

Improve performance

Facebook, which is struggling to boost performance in the Asian market, reported $ 354 million in Asia in the first quarter of this year, accounting for about 14% of its revenue, up from $ 118 million at the 2012 IPO (initial public offering) and 11%.

Although China is the country with the most Internet users globally, Facebook said in its 2012 prospectus that it has not yet entered the Chinese market due to legal and regulatory obstacles.

Informed sources said that Facebook is currently the only tenant on the floor. As the company is likely to expand its leased area in the future, it is unlikely that landlords will continue to lend for a short period of time, which is also a customary mode for developers to adapt to the needs of their key tenants. The official website of Fortune Financial Center shows that each floor of the office building is between 2,600 and 2,900 square meters. (Book Yu)