Speculation is growing that Facebook is preparing a foray into China, with the social network being linked to a number of possible acquisition targets in the world’s second-largest internet market.

Facebook has reportedly held talks in recent weeks with Zhanzuo.com, a Chinese social networking site that, like its American peer in its early days, is focused on college students.

According to the Chinese press, Facebook has maintained an interest in Zhanzuo despite the Chinese group rebuffing an offer of up to $100 million (£48 million).

Facebook today denied the reports. A spokesman said: “Facebook has no plans to acquire any company in China. In the coming months, internationalisation of the Facebook website is priority and those efforts will support multiple markets around the world.”

However, Facebook, itself the centre of takeover speculation in recent months, has also been linked to Tianwang, a Chinese search engine, and Xiaonei.com, the leading social network in China.

Xianonei, which has an appearance similar to Facebook, claims to have 8 million active users in almost 8,000 colleges and universities in China. The site – its name means "on campus" – was acquired last year by Oak Pacific Interactive, the Chinese new media conglomerate.

A Facebook spokesperson declined to comment.

However, the company is known to have registered a Chinese internet address – Facebook.com.cn – and China, with its growing consumer class, is a key target for America’s internet giants.

It is estimated that China has some 162 million internet users, placing it second only to the US. According to a recent poll, the average Chinese user spends between 14 and 19 hours a week online, compared with between seven and ten hours in the US.

However, the burgeoning market – another 700 million rural Chinese are set to go online in coming years – is proving resistant to outsiders.

In 2005, Yahoo! announced it would merge its Chinese arm with Alibaba.com, a domestic rival, drawing a line under years of losses in the country.

EBay, the world’s largest online auction house, has struggled to compete with China’s Taobao.com, despite the American company making its entry into China through the acquisition of EachNet.com, at the time China’s largest auction site.

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