Facebook Inc (NASDAQ:FB)’s Sheryl Sandberg Met With The Head Of China’s Internet Regulator: Next Move
Facebook is not a social-media platform to the Chinese government rather it is a channel for Chinese businesses to grow outside the country’s borders. Facebook Inc (NASDAQ:FB)’s Chief Operating Officer Sheryl Sandberg met with the head of China’s Internet regulator Cai Mingzhao, but the meeting was likely more an acknowledgement that the platform can assist Chinese businesses advertise in foreign markets and less about the possibility of Facebook to open up here.
This the proposition of a post on the website of China’s State Council Information Office which included a photo of Ms. Sandberg and Mr. Cai standing with each other in the formal pose with a Chinese flag hanging down in the background, it is a routine setup usually taken by Chinese officials during all kinds of state visits.
According to the government site, Ms. Sandberg met with Mr. Cai earlier in the day to talk about Facebook’s role in assisting Chinese enterprises to grow abroad. Enticingly, the post also reported about the two other discussed cooperative items, without providing details. With increased probability, the meeting focused less on Facebook to open up in China and more on the concern that American Internet giant’s business here highly similar to that of Google Inc., which makes most of its money in the country assisting Chinese businesses to advertise in foreign markets.
Facebook is blocked in China, and there is no apparent probability that the site will open any time soon. Rather, Ms. Sandberg’s meeting reflected that for U.S. tech companies, the ascending of the Chinese economy means the country is now highly important source of advertising dollars. That means for Ms. Sandberg and Facebook it’s valuable to give a smile and incline towards the Chinese market, even as they have been blocked from the world’s largest pool of Internet users. Facebook Inc (NASDAQ:FB) shares were off -0.50% to $43.38 in premarket on Wednesday.