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In terms of adult, I am sure the Chinese want to buy, but anything adult is blocked by the great firewall. The authorities will even block sites like facebook, youtube, etc on and off - I was in Beijing not long ago facebook was blocked for a few days, then they randomly opened it up again.
But all the usual adult urls I tested were blocked. So it doesn't matter if there are 1.3 billion of them or whatever, if they can't view your site - it's pointless.
On another note, Chinese are better at making things and saving money than spending it like westerners. They are notorious savers, I was told that the percentage of savings of person's disposable income was 30%+. Just walking around on the street it didn't seem like the avg Chinese person was willing to spend money on non essentials just yet.
Bottom line is it seems anything slightly objectionable gets shut down quickly. And they don't spend like there is no tomorrow yet either. Hopefully both these things change with time.
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