Today news
About the same in other media
Alibaba enjoys record sales for Singles Day shopping extravaganza in China
Reading now: 705
The Chinese e-commerce titan Alibaba enjoyed record sales during its Singles Day shopping extravaganza, giving a much-needed boost to the firm after a torrid year in which it became the symbol of a government crackdown that hammered the country’s tech sector.
The firm said 540.3bn yuan (£63bn) was spent as China’s army of consumers went on a splurge despite a more low-key sales campaign after pressure from the government to tone down the aggressive promotions and rampant consumerism.
Combined sales with its industry rival JD.com came in at 889bn yuan, which was also a record and up about a fifth from last year.
Alibaba and JD.com reported strong sales of items such as electric appliances, electronics, pet supplies, and cosmetics and other
Read more on theguardian.comAbout this in other media
Wanted: 100,000 pioneers for a green jobs Klondike in the Arctic theguardian.com /2 years ago
Bitcoin prices retreat for 4th day: What's cooking? economictimes.indiatimes.com /2 years ago
Evergrande shares slip after deal to raise $273 million in a business sale cnbc.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
