Facebook to Set Up Standalone China Service With Baidu
bloomberg.com
bloomberg.com
I've written about it before: http://liuliu.me/%E9%9A%8F%E6%84%9F/facebooks-china-strategy and I will say it again, the joint venture thing never works, it didn't work before, it won't work this time too.
Voting with your voice means very little compared to voting with your wallet. If this upsets you (it doesn't really upset me) then you should leave Facebook.
When Google left China, it made me really admire and appreciate their service (I can't imagine giving more time/money to Google than I already do :)
It forces you to follow rules, including censoring any comments that are about the latest hot topics, censoring any critics and deliver any personal data about your users if needed... The process for getting the license is quite a bit of a pain so a lot of people don't get an ICP license for the first few months of the website, but then there's always a chance that the website will be blocked