Although Facebook does not have a direct presence in China, it generates 10% of its total advertising revenue through its China advertising agency, making China one of the social media giant's largest sources of revenue.
Helping Facebook connect to the Chinese market is an officially authorized Facebook advertising agency in China called Meet Social, founded in 2014.
It is the only officially authorized agency and digital marketing group in China that also represents nine global advertising platforms: Facebook, Instagram, Google, YouTube, Twitter, Pinterest, Snapchat, and LinkedIn.
It helps clients advertise on those platforms, and also handles ad optimization, strategic planning, creative design, video production, and other services.
What's more, the company is also able to provide Chinese companies and organizations with unique insight into overseas markets through powerful data and information from Facebook's social network.
According to Meet Social's website, it has already served more than 10,000 Chinese corporate clients, delivering more than 25,000 advertisements per day.
It serves well-known user brands, emerging apps, e-commerce platforms, and new games.
In 2019, Meet Social has revealed that its ad sales on Facebook and Instagram platforms could reach up to $2 billion.
Outside of official channels, market research firm Pivotal Research calculated that Facebook earned an estimated $5 billion in total revenue in China in 2018, accounting for 10% of the group's sales that year.
Facebook's sales in China alone are enough to make it the seventh-largest internet company in the country.
For Facebook, the huge potential of the Chinese market is even harder to resist. China's Internet advertising spending is close to 400 billion yuan, or about $57.1 billion, which is equivalent to Facebook's global advertising revenue.
In January of this year, Facebook added a new team of engineers to its Asia Pacific headquarters in Singapore, who will design a new ad campaign for Chinese advertisers.
It is designing a new ad delivery system for Chinese advertisers that will improve the efficiency of ad delivery and keep the network intact. This shows that Facebook's ambition to expand its business in China remains high.
