(Online Dating Industry Journal) According to China View, the online dating market in China is expected to reach 653 million yuan, the equivalent of about $81 million, by 2008. This would be an annual growth rate of 60 percent, according to an iResearch report. Representatives from iResearch were scheduled to speak at the second annual Asian Internet Dating Conference (iDate2006) on May 18-19, 2006 in Beijing and released the report during the conference.
From the article:
"The report values the online dating market at 37 million yuan (some 4.5 million dollars) for 2004 and 91 million yuan (11.2 million dollars) for 2005 and predicts it will grow to 653 million yuan, 4.8 percent of the entire dating market in China.
"In comparison, the US market was 520 million dollars for 2005, and the European market was 110 million dollars, both expanding at double-digit rates, the report said."
China is increasingly being recognized as a huge market for a variety of business ventures and, with a country-wide population of over 1.3 billion people, online dating has a bright future as it becomes more widely accepted by the younger Chinese online culture.
Dating sites like eFriendsNet Entertainment, a Beijing-based social netwo rking service company, will reap some of the largest benefits of this expected growth. eFriendsNet launched their dating site way back in January 2004 and, because they have developed a stronghold on the market at such an early stange, they have a great advantage and major upper hand as growth continues. In fact, eFriendsNet is, according to press materials, the largest and fastest growing online dating platform in greater China, using internet as well as mobile technologies to attract users.