The foundation-laying stage

1999

In 1999, global Internet wave reached the peak. This year saw the largest size of IPO (initial public offerings) by US Internet companies and over 200 technology companies went public. The Internet bubble, which prevailed most this year, also affected China. In 1999, China's network was filled with limitless opportunities and hopes and this year could be named the most important golden year of Chinese Internet start-ups in the 20th century. A group of Internet companies such as Alibaba, Baidu, SNDA and tianya.cn were founded one after another. In July 1999, china.com was officially traded at NASDAQ, firing the first shot for the coming of a group of Chinese concept dot-com stocks in 2000. In the same year, Sina secured USD25 million overseas venture capital. In 1999, with strong interest in capital and concern about burst of foreign Internet bubble, Chinese people started heated discussions on if Internet was a revolution or a bubble. For domestic Internet industry, despite that facts that china.com went public, multiple Internet companies were incorporated and such Internet business modes as portals and e-commerce embraced the development boom, virtual economy led by Internet just stepped onto a corner of the historical stage. Amid expectations on and concerns about the Internet bubble, Internet was continuing to exert profound and revolutionary influence over the society and curtains were being opened for a revolution of information transmission.

In May 1998, United Nations Secretary-General Kofi Annan pointed out in the meeting of UN Information Committee that while strengthening traditional methods for transmitting words, sound and images, we should utilize the most advanced fourth media, Internet. The concept of "fourth media" was officially brought forward.

The 2nd Seminar on Periodicals, Science&Technology and Social Development in the Asia Pacific Region was held in Beijing from April 14 to 17, 1999. Representatives from over 100 news agencies, research institutes and related enterprises from 10 Asia Pacific countries and regions attended the meeting. Experts proposed at the seminar that influence of the "fourth media" with Internet and information expressway as the backbone was likely to exceed traditional media in the next 10-20 years and would rise rapidly.

In 1999, multiple major milestone events happened in the field of Chinese Internet transmission and the position of network as China's fourth largest media form was preliminarily confirmed. Portal websites such as Sina, Sohu and NetEase as well as a large number of newly launched websites started to cover news. Sina.com.cn was the first in China to run coverage on "NATO bombs hit Chinese embassy in Yugoslavia" and the transmission force of network media started to display itself. Central government instructed for the first time to utilize modernized information technology to enhance and improve foreign transmission methods, launched surveys and inspections over news media websites and stepped up efforts for building of the websites. Opinions of the Publicity Department of the Communist Party of China and the International Communication Office of the CPC Concerning Strengthening News Publicity via International Internet Network was released, clarifying the development direction of network news publicity work in the future and raising regulative principles on online news information issuance. Release of the Network Media Convention in the News Circle of China not only empowered network media, but also restricted its responsibilities and obligations for the first time. Birth of bbs.people.com.cn opened the door to network media observing and influencing social opinions in China. After more than ten years of development, network media has become the major channel for netizens to inquire information. Interactiveness and instantaneity of network enabled network media to gradually grow into a major approach of affecting social opinions.