CHINA DAILY - Dec 31 - Facebook has teamed up with a Chinese partner on real-time bidding for advertising on its site, a technology used by Google and other Internet companies to target advertisements to consumers more effectively. The move will enable the US-based company to reach more Chinese advertisers who want to place more targeted advertisements on Facebook even though its service is not accessible in China currently. Facebook launched its RTB service in the US and Europe in September, a move to make it easier for users to focus on advertisements relevant to them, compared with traditional display advertisements. Google has a similar service called DoubleClick Ad Exchange. Amazon.com has also launched its own RTB services, says a report in Adweek earlier this month. The revenue earned by Facebook from traditional display advertisements, measured by cost per thousand price, is 5 to 10 times less than vertical websites. Facebook, which had 1 billion monthly active users by September 30, earned $3.15 billion from advertising last year.