Western businesses are now able to buy a piece of real estate in Chinese cyberspace, opening up a potentially massive new e-commerce market. As from Sunday, businesses outside China can register .cn domain names for the first time ever. Registry service NeuStar, which is working with the Chinese authorities to handle the roll out of domains, is expecting huge demand. China currently has 56.6 million citizens online and analysts expect this to jump by 46% to 86.3 million by the end of the year. By allowing foreign business to buy up a Chinese domain name, Beijing has removed one of the barriers to Western companies trading. It will allow big e-tailers like Amazon to establish a local presence in a lucrative market. Full Story
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