The Chinese Internet Business Opportunity
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Have you heard of a country called China? It’s big, very big, and full of people. Chances are you have started to hear a trickle of news talking about the future business ramifications of China’s surging economy. That trickle is becoming a stream and very soon will likely be an ocean as China economy booms and becomes the largest marketplace in the world. It’s hard to ignore statements like that if you are interested in business opportunities.
The Internet is one of the main areas where China is growing significantly. Forecasts state that China’s Internet market will be the largest, surpassing the USA as web technology further penetrates. Considering the population of China this is not a surprising prediction, it’s just taken longer for the Web to catch on in China because of the political and economic landscape. In recent years Chinese Internet user numbers have been growing so much that web companies are now scrambling to get in to what they expect will be the focal point for profit growth in the future.
Yahoo buys into Chinese online commerce firm, setting up battle with eBay
Yahoo Inc. is paying $1 billion in cash for a 40 percent stake in China’s biggest online commerce firm, Alibaba.com, strengthening the ties that international companies are forging in the world’s second-largest Internet market.
Rosensweig said the alliance creates an entity with assets to compete across the full range of Internet businesses — online commerce, e-mail and search engines. He expects China to become the world’s biggest Internet market within five years.
It’s not quite time to build that Chinese language version of your website yet but certainly an astute Internet entrepreneur should not ignore the potential from the Asian giant. Remember the web 5-10 years ago? That’s where the Chinese Internet is now. There’s an opportunity to get in on the ground floor and be the first mover in a new industry.
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Hmm, the problem is, China’s internet “population” might be bigger then anywhere else, but their expenditure will be no where as close!
There is a huge rise of the middle class in china at the momment, so depending now how things go in the next 5 or so years (given the Chinese dont start a war with the west over Taiwan) it might infact be the perfect market to be in
Quite right Al, however if you plan a business around advertising those eyeballs are still quite valuable.
I think in that article they said the average Chinese was earning $1000 USD per year. They expected online expenditure in China to grow by 80% each year for the next three years but when you are multiplying small numbers it won’t be huge.
of note is that ALL chinese school students MUST learn English – starting from primary school – so a Chinese Language website may not be the critical factor – meeting the cultural differences, and as pointed out, products that the middle class can afford.
Im keeping a close eye on China!!! 1 billion for Alibaba.com crazy numbers great site and company, as I heard that was only for 40% Alibaba share holders still own 60% thats nuts.
I’ve been watching China’s moves for years, as well as my father. It’s starting to get very interesting. Good article.
I know you from YE (ericesquire) – we’d love to have you join us at http://www.younggogetter.com too, virtually all of the top posters and contributors at YE actively post at YGG as well. We’re picky about our members, and we’d sure like to have you.
Eric – does your father keep moving?
Hmm eric, both your YoungGoGetter website and your own website appear to be having problems working at the momment.