Mark Zuckerberg’s Appointment In Chinese Business School Opens Possibility For Facebook To Reenter China
Rubi Valdez | | Oct 22, 2014 08:15 AM EDT |
(Photo : Reuters/Dado Ruvic) Electronic cables are silhouetted next to the logo of Facebook in this September 23, 2014 illustration photo in Sarajevo.
It's a win-win situation for China and Facebook's chief executive Mark Zuckerberg especially that Tsinghua University School of Economics and Management has now partnered with one of the largest social media sites. Analysts said that the move could open the gates for Facebook, banned in China since 2009, to dominate the Chinese online community.
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Tsinghua University business school announced Monday Zuckerberg's appointment as a school board member together with representatives from IBM and Anheuser-Busch InBev, a Belgian-Brazilian beverage company. The board, which also includes top Chinese government officials, is tasked to advise Tsinghua on search engine marketing techniques.
Zuckerberg is flying to Beijing this week to attend the annual board meeting, which prompts a mutual understanding between Facebook and China. Victor Anthony, marketing director at Topeka Capital Markets, seconded that Zuckerberg's appointment in Tsinghua could pave the way for Facebook to reenter the country.
Anthony added that Facebook has been hiring Chinese students based in the U.S. as language specialists. The plan is part of its mission to tap markets in China and widen cultural understanding.
Facebook is also looking forward on a three-year leasing contract at the center of Beijing's business district apart from hiring Chinese engineers, Bloomberg News reported.
While critics of the Communist Party of China suggest an independent judiciary to allow freer media, President Xi Jinping is keen on putting Hu Jintao in charge of internet control. China continues to ban a number of including The New York Times, Bloomberg, Businessweek, YouTube, Twitter, and more recently the BBC and Instagram.
Xi has been more elusive of online communities outside the communist government due to rising conflicts in Hong Kong.
China is a huge investment market with over 618 million internet users as of April 2014. Once Facebook reaches 30 percent of the target market, it can increase individual shares value from US$3 to US$4. In the U.S., 70 percent of internet users use Facebook services.
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