As many as half of all Chinese Internet users regularly log on to social networks, making the nation the single biggest untapped market for U.S. sites such as Facebook, writes Mike Froggatt. For now, Beijing is blocking access to Facebook, but with one of China's largest Internet companies now indirectly investing in Facebook, Froggatt argues this could soon change. "There are several signs that suggest the next big online story about China is going to be Facebook," he writes.

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