Of the three billion people, globally that use internet daily, over 700 million of people are there in China, a country where Facebook has been banned. Thus, aiming to get a hold of such high-potential Chinese online market, Facebook has entered the country incognito and has authorised the release of a new app here that does not carry its name.

The app is called "Colorful Balloons", and while it was released by Youge Internet Technology, having registered address in Beijing, there is not a hint of association with Facebook.

However, Zhang Jingmei, a women director of the company, has been spotted sitting next to Facebook executive Wang-Li Moser, in a meeting between Facebook and the Shanghai government, which hints that she is likely associated with the social network.

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As of now, neither Facebook nor Jingmei has issued any official statement regarding their partnership.

The app resembles the look and function of Facebook's Moments app and collates pictures from a smartphone’s photo albums and later shares them.

Owing to the increase in the mobile video ads sales, Facebook last month reported $3.89 billion in profit in the second quarter of 2017, up from 71 per cent during the same period last year.

Daily active users were 1.32 billion on average ending June 2017, up from 1.28 billion on average for March 2017 -- an increase of 17 per cent year-over-year.

Monthly active users also recorded an increase and were 2.01 billion as of June 30, 2017, an increase of 17 per cent year-over-year.

Driven by the increased monetisation of video in the Facebook News Feed, mobile advertising revenue represented approximately 87 per cent of advertising revenue for the second quarter of 2017, up from approximately 84 per cent of advertising revenue in the second quarter of 2016.

And getting those 700 million users from China on board the social network, which currently has a captive audience of over two billion monthly active users on its platform will help Facebook reach new heights and increase revenue.

However, China's internet censorship has left big players like Apple and Google, and of course Facebook out of the huge Chinese market.

Facebook was banned in China in 2009, which was later followed by Instagram in 2014. Even WhatsApp was partially blocked last month.