It is challenging to recover the large-scale internet traffic data purely from the link measurements. With the rapid growth of the problem scale, it will be extremely difficult to sustain the recovery accuracy and the computational cost. In this work, we propose a new Sparsity Low-Rank Recovery (SLRR) model and its Schur Complement Based semi-proximal Alternating Direction Method of Multipliers (SCB-spADMM) solver. Our approach distinguishes itself mainly for the following two aspects. First, we fully exploit the spatial low-rank property and the sparsity of traffic data, which are barely considered in the literature. Our model can be divided into a series of subproblems, which only relate to the traffics in a certain individual time interval. Thus, the model scale is significantly reduced. Second, we establish a globally convergent ADMM-type algorithm inspired by [Li et al., Math. Program., 155(2016)] to solve the SLRR model. In each iteration, all the intermediate variables' optimums can be calculated analytically, which makes the algorithm fast and accurate. Besides, due to the separability of the SLRR model, it is possible to design a parallel algorithm to further reduce computational time. According to the numerical results on the classic datasets Abilene and GEANT, our method achieves the best accuracy with a low computational cost. Moreover, in our newly released large-scale Huawei Origin-Destination (HOD) network traffics, our method perfectly reaches the seconds-level feedback, which meets the essential requirement for practical scenarios.