Facebook was registered with a ".cn" domain name in 2006, and that was when the media world also disseminated this information in China. Additionally, afterwards Li Jiacheng invested more than 100 million U.S. dollars into Facebook and Facebook’s potential entry into China was again brought up. However, thus far, Facebook is still hovering on the outside.
China has its own social network sites such as QQ, Renren, or Kaixin001, even with the popularity of Facebook around every parts of the world; Facebook still can't find its way to enter this great online market.
China is a very local- firm- protected country, and that is another reason that Google announced to resign the soil. I think the rationale behind the government will be 1, to block anything that imply autocratic of China; 2, to block any outside companies that has potential competition to our local firms. The second one reminds me of the Ching Dynasty when Chinese empire choose to block every information outside their borders. Back then was through military force to stop foreign ambassador to come in to the land. Now with the broad less internet, the great firewall and unreasonable business regulations serve the similar function as thousands of years ago.