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Facebook: 'No plans' to enter China anytime soon

Despite Facebook's estimated 950 million users around the globe, the world's largest social network still has a zero percent market share in China.

A Facebook executive has said at a social media conference in Hong Kong that there are no plans for the social network to hit the Chinese market.

Facebook's North Asia director, Jayne Leung, told conference attendees that the social network would not launch in the region any time soon, according to Meld Magazine editor Karen Poh on Twitter.

That statement comes nearly a year after chief executive Mark Zuckerberg expressed similar sentiments. Of course, at that time Zuckerberg also said that Facebook was in no hurry to make a bid for the stock exchange.

Less than six months later, Facebook went public at $38 a share, a price from which it's been sliding ever since.

Speculation has been rife for more than a year that Facebook could attempt a launch in China, which has its own censor-"friendly" social networks, such as Renren and Sina.

But the world's largest social network, which has an estimated 950 million users, is blocked in the country by the Chinese government. Facebook was blocked in 2008 when the site had just 100 million users.

In an S-1 filing with the U.S. Securities and Exchange Commission, as part of the company's bid to file for an initial public offering, Facebook said it did not know if it could "find an approach to managing content and information that will be acceptable to us and to the Chinese government."

It is estimated that China has more than 538 million users online, out of a total population of more than 1.34 billion people.