Tags: AS | China | Singles | Day

Chinese E-shoppers Spend Billions on Singles Day

Thursday, 10 November 2016 11:48 PM EST

BEIJING (AP) — China's online shoppers are engaging in a rare bright spot for its cooling economy — a quirky holiday dubbed "Singles Day" that has grown into the world's busiest day for e-commerce.

The country's biggest e-commerce brand, Alibaba Group, said Friday sales by the thousands of retailers on its platforms passed 62.6 billion yuan ($9 billion) in the first 10 hours of the day. Rivals including JD.com, VIP.com and Suning offered bargains on clothing, smartphones, travel packages and other goods to attract shoppers.

The spending gives a boost to the ruling Communist Party's efforts to nurture consumer-based economic growth and reduce reliance on trade and investment. E-commerce sales in China rose by 26.1 percent in the first nine months of the year.

© Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Asia
China's online shoppers are engaging in a rare bright spot for its cooling economy - a quirky holiday dubbed "Singles Day" that has grown into the world's busiest day for e-commerce.The country's biggest e-commerce brand, Alibaba Group, said Friday sales by the thousands of...
AS,China,Singles,Day
122
2016-48-10
Thursday, 10 November 2016 11:48 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved