• Reuters, Friday, June 20, 2008 11:30 AM

Social networking giant Facebook is moving into the Web's largest market. According to Reuters, the privately-held company is now targeting China with a new Facebook site offered in both simplified and traditional Chinese.

China overtook the United States as the world's largest Internet market with 221 million Web users at the end of February this year.

Facebook is late to the social networking party in China, as MySpace launched its own Chinese-language site in the country last April. As Facebook's popularity surged worldwide, a slew of Chinese copycats, from Xiaonei.com and Zhanzuo.com also emerged. Facebook has also released French, German and Spanish versions of the site this year. Nearly two-thirds of its more than 67 million users live outside the U.S.

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