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(China Daily)
A report released earlier this year by Internet and research consulting firm iResearch valued the online dating market at 37 million yuan (US$4.5 million) for 2004 and 91 million yuan (US$11.2 million) for 2005, and predicts it will grow to 653 million yuan (US$80.5 million) in 2008.
In comparison, the US market was US$520 million last year, and the European market was US$110 million, both expanding at double-digit rates. And Lesnick said with the markets in the United States and Europe beginning to mature, many overseas companies are starting to pay attention to the burgeoning Chinese market.
Paying for dates
The National Population and Family Planning Commission revealed earlier this year that 117 boys were being born in China for every 100 girls, far beyond the normal ratio of 104-107 to 100.
For Lesnick, the statistic means Internet dating will grow even more. "In China, the most interesting factor is the male to female ratio," he said. "In the US it is around even. But the ratio in China means that there is going to be a big problem in the long-term.
"When these guys turn 20 to 25 and are looking to get married, they are going to find that there is a shortage of women. So, they are going to pay money to get dates and to be set up, so the market will grow hugely."
One of the delegates most captivated by the two-day conference was Mark Brooks, a US-based online dating industry analyst and editor of Onlinepersonalswatch.com.
"I know the American market very well, and the European market somewhat, but the Asian market was a mystery to me," he said. "The US market is coming to a point of maturity now, whereas the situation in China now is how it was there a few years ago.
"People are beginning here to meet couples who successfully met through online dating. People are starting to trust it more, and seeing that it is a secure vehicle for finding the ideal match.
"In a few years, everyone will know somebody who has met their partner through online dating. When the growth does pick up and go through the roof, there will be many foreign firms here."
Brooks said he saw the conference as a groundbreaking moment for the industry in China. "It was like going to a Windows conference in 1995," he said. "This is an incredibly exciting time."
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