web 2.0

United States' Internet users send e-mail and surf for information on personal computers, young people in China are playing online games, downloading video and music into their cell phones and MP3 players and entering imaginary worlds where they can swap virtual goods and assume online personas. Tencent earns the bulk of its revenue from the entertainment services it sells through the Internet and mobile phones.Another distinguishing feature is the youthful face of China's online community. In the U.S., roughly 70 percent of Internet users are over the age of 30; in China, it's the other way around -- 70 percent of users here are under 30, according to investment bank Morgan Stanley.Because few people in China have credit cards or trust the Internet for financial transactions, e-commerce is emerging slowly. But instant messaging and game playing are an obsession, now central to Chinese culture. So is social networking, a natural fit in a country full of young people without siblings. Tencent combines aspects of the social-networking site MySpace, the video-sharing site YouTube and the online virtual world of Second Life.