According to reports in the Chinese press, it has been revealed that Facebook Inc. has signed the deal with the Baidu Inc., the biggest Chinese search engine, to open up a social networking site in China. The site will not include the blocked Facebook in China, but a new social networking site.

However, the launch date of the website has not been decided yet, as they have not sought the approval of the Chinese government. They need to employ well-versed and experienced executives for the website.

The deal has been finalized after several meetings among Facebook Chief Executive Officer, Mark Zuckerberg and Baidu CEO, Robin Li.

Palo Alto, California- based Facebook said in an e-mailed statement, “We are currently studying and learning about China, as part of evaluating any possible approaches that could benefit our users, developers and advertisers”.

The agreement is balanced on both the sides as Facebook requires a local partner to break in to China. Similarly, Baidu thinks that the social networking is very important.

The agreement makes sense for China, as they have banned sites like pornography, gambling and content critical of the ruling Communist Party and sites which includes Facebook, Twitter Inc. and Google Inc.’s.