https://www.theverge.com/2018/7/25/17612162/facebook-technology-subsidiary-blocked-china-censor

Just one day after Facebook gained permission to open a subsidiary in China, the government pulled the business filing and began to censor mentions of the news. An anonymous source tells The New York Times that Facebook no longer has permission to launch the startup incubator it had planned.

Facebook planned to open up a $30 million subsidiary called Facebook Technology (Hangzhou) and run a startup incubator that would have made small investments and gave advice to local businesses.