PUBLICATION AND RESEARCH, IIPM
The ‘Chinese Google’ even has the original search technology behemoth, Google, holding a 2.6% stake. Despite these gung-ho parameters, things are not so rosy. Last year the Chinese government came down heavily on cybercafés, fearing an unhealthy effect on the Chinese culture. The moot point being that the regulatory patterns and business climate are typically highly controlled. Even though official estimates on internet penetration claim that China is second only to USA, the fact is that China commands only 7.9% of web penetration, compared to 67% in USA. The problem gets compounded with credit cards the standard route through which web transactions are done. China has an abysmally low credit card penetration of just 3%; and almost unheard of internet gateways supporting secure transactions.
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Source:IIPM Editorial:- 2006
