According to CNET, the MII, China's equivalent to the US' FCC, says that there will be 120 million Internet users in the China this year. That keeps them on track to easily surpass 200 million by 2007, as reported earlier.

The statistics that come out of China are simply mind-boggling. Consider the following:

China is the world's second-largest PC market. IDC predicts that roughly 30 million PCs will ship in 2005.

China is the world's largest cellular market, with more than 340 million subscribers in January of this year.

Not surprisingly, American companies are pouring money into the market. eBay is investing $100 million and UPS is investing $600 million, building 20 new warehouse and distribution facilities over the next two years.

A lot of experts warn about China's economy cooling off, or stalling. Eventually this will happen, but for the time being there is still plenty of "headroom" for growth, as bizdev people like to say.