Online entertainment enters 'golden age'

China's online entertainment industry has entered a golden era as more and more Chinese consumers are willing to pay for online games, video, livestreaming platforms and other entertainment content, an internet trends report said.

The report, by "Queen of the Net" Mary Meeker who's now with the venture capital firm Kleiner Perkins Caufield & Byers, said China rose rapidly in the mobile internet industry, with the number of mobile internet users surpassing 700 million in 2016, up 12 percent year-on-year.

The report said although entertainment consumption only accounts for 3 percent of Chinese consumers' overall spending, which is lower than the average of 9 percent in developed countries and regions, the growth potential is still huge. Meeker said that China's entertainment industry is in a "golden age".