China Soon to Become Largest Web Market
China will soon pass the United States as the nation with the most Internet users, according to figures released by the China Internet Network Information Center. The state-controlled entity said the total number of Internet users in China soared 53 percent to 210 million at the end of 2007, up from 137 million at the end of '06. China is now just 5 million short of passing the U.S.-who wants to bet that it's already done so?
This means China continues to be a massive growth area for multinational Web companies like Google and Yahoo that have set up business in the country. Chinese Internet stocks had a stellar 2007 which should continue as the continues to grow at massive rates. As the population grows, so does the advertising pie.
According to the report, which was cited in The Wall Street Journal, 16 percent of the Chinese population now has access to the Internet-which is still less than the global average of 19 percent. Most Chinese still access the Web via Internet cafes, although home and business use is also growing rapidly.