Table of Contents
Key Investment Themes ..........................................................3
China Top Predictions for 2012...............................................8
Key Reports and Recommendations ......................................9
China Internet Market Overview ............................................12
Regulation Concerns on VIE issue.........................................................................17
Mobile Internet ........................................................................19
Where Are We for Mobile Internet?.......................................................................19
Mobile IM / Social Media......................................................................................25
Mobile Games.......................................................................................................26
Mobile eCommerce...............................................................................................29
Online Advertising..................................................................30
Display Advertising ..............................................................................................37
Online Video.........................................................................................................40
Online Search........................................................................................................49
Social Network / Microblog....................................................59
Regulations on Social Network / Microblog...........................................................64
Online Gaming ........................................................................66
Key Industry Drivers.............................................................................................67
Summary of Gaming Regulations in China ............................................................72
Online Gaming Primer ..........................................................................................75
eCommerce.............................................................................80
Group Buying .......................................................................................................87
Companies
Alibaba.com Limited ..............................................................92
Baidu.com ...............................................................................96
NetEase .................................................................................104
Shanda Games......................................................................108
Sina Corp ..............................................................................112
Sohu.Com .............................................................................116
Tencent..................................................................................121