UGC is the hotness here in Asia Tom. Everyone is a curator :D
94% of Chinese consumers trusted companies that had social media presences more than companies that did not (Burson-Marsteller)
2011 the year UGC took over professional content creation in China http://www.chinadaily.com.cn/business/2010-07/23/content_11042851.htm
Blogging / Microblogging specifically in China is worth exploring (See what China Mobile are doing in this space)
Top B2B Social Sites in China http://ushi.cn
- Most popular B2B networking site in China right now http://Tianji.com
- Linkedin Clone (est 2005) http://weibo.com/
- Twitter + Facebook hybrid (140 million users / 25million Tweets a day / recently released an enterprise version) http://zhihu.com
Bing did a deal with Baidu.com a few weeks back as you are probably aware - all English search is going through their engine - opportunities abound there!
Of interest: Baidu recently released their own browser: http://liulanqi.baidu.com/
(might look familar heh) Couldn't find any data on app installations / usage.
The best blog out there covering Social Media in China http://www.thomascrampton.com/
Useful Infographic on China's Social Media Evolution.http://www.thomascrampton.com/china/china-social-media-evolution/
Localized play (FB, LI, Blogger etc blocked - Weibo, Ushi etc way to go - user base / trusted sites)
Develop Trust is prob number one hurdle. Obv all depends what your objective is?
Sidenote: Mobile wise Andriod / Google are killing it here.