- This is the equivalent of more than half of last year’s record haul for the 24-hour event
- The sales will be closely watched by investors who are keen to gauge how willing Chinese consumers are to spend as economic growth threatens to slip below 6%
Alibaba Group Holding Ltd.’s Singles’ Day shopping bonanza got off to a scorching start, logging more than 114 billion yuan ($16.3 billion) of purchases in less than 90 minutes, the equivalent of more than half of last year’s record haul for the 24-hour event.
An estimated half-billion shoppers from China to ...
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