If it's so big how come I've never heard of it but have of Facebook? It must be that outside of China and Chinese users, it's irrelevant. I honestly don't think Facebook has anything to fear unless the whole world became Chinese somehow. Personally, I don't want to use a service based in a communist country, NSA would be lesser of the two evils.
I don't get why this comment was downvoted. I find the fact that china is probably monitoring communications and data much more systematically than any other country ( because they are proficient technologicaly and a single-party country), a very good reason why people in general wouldn't want to use their service.
I would add to this comment that chinese themselves may very well prefer to use US services, because they may very well be the first target, should they decide to have different political views about their country.