The value of China's Internet industry will surpass Japan's in five to 10 years because it is more dynamic and not dominated by one company, an analyst with the investment bank giant Morgan Stanley said Monday.
The $15.1 billion equity value of China's Internet industry, which includes 13 portals, online game services and auctioneers, lags the approximately $40 billion value of Japan's market, said global Internet analyst Mary Meeker.
But she said the balance would change because China's growing online population -- now about 94 million people -- is the second-biggest in the world and the biggest for people under age 30.
At a Beijing news conference, Meeker said that Yahoo! Japan controls much of Japan's Net sector, but China has no dominant player so far.