While we, in the US, bask in the glory of all things online video (Ok, some, most, are not that glorious), Time Magazine’s website (and possibly the print edition, but thats so arcane) takes a look at how China is handling the growth of online video, and their version of YouTube - Tudou.com.

With an audience estimated at 78 million people, online video is big business in China: Western venture capitalists have poured $120 million into the industry since 2004, according to CCID Consulting, a leading Chinese IT firm. Tudou.com, China’s largest video sharing website, serves more than a billion minutes of video per day, some 30% more than YouTube. “People spent twice as long on Tudou than on YouTube ,” says CEO Gary Wang, who founded the company in Shanghai in 2005. “They really get in and get stuff they don’t typically see on TV.”