The VeriSign Domain report of December 2008 encoded that .cn, ( China), is now the most popular Top Level Domain(TLD) .
The suffix .cn has already outnumbered .net, .org and .info domains thus standing proudly on the second number of TLDs after .com 
. In terms of overall registrations .com, .cn, .de, .net, .org, .uk, .info, .nl (The Netherlands), .eu (European Union), and .biz
The report has many more news related to the present Domain industry. The new registartions, renewals and other growth opportunities for domains. Check the Report here
The recent growth in .cn domains was partly driven by the lax oversight of registrations, which attracted criminals spammers.
We come across huge numbers of .cn domains hosted on Russian IP addresses or hosted on botnets. These are mostly throw-away domains used only for a few days.
@Joe Wein
Yes I read something about Scams going on with .cn domains. Seems that maybe the reason for the same.