In spite of concerns over the recovery of the real economy, online services fared well in 2009, growing a robust 30.7 percent from that of 2008 and outperforming other business modes.

On January 17, 2010, iResearch Consulting Group issued a report that said the scale of the Internet economy would reach 74.3 billion yuan ($10.8 billion) in 2009, up 17.4 billion yuan ($2.5 billion) from 2008.

iResearch said the fastest-growing Internet-related business was online payment, which grew 110.2 percent in 2009 year on year. It was followed by online shopping, which rose 93.7 percent in 2009. The research report said e-commerce will become the most prominent business in the next few years.

The report estimated the Internet economy will reach 112.3 billion yuan ($16.4 billion) in 2010.

A report conducted by the China Internet Network Information Center said the top three Internet uses in 2009 were for online music, online news, and search engines. Meanwhile, online travel reservations, stock transactions, online banking services and online shopping also contributed to the Internet economic boom.

In China, the Internet coverage ratio reached 28.9 percent in 2009. Though it is growing at a remarkable speed, the coverage still lags far behind that of developed countries. The Internet coverage ratio in the United States and Japan is about 80-90 percent—a reminder that much needs to be done and explored in the vast Chinese market.