Alibaba smashed its record for the online retail blitz known as Singles Day. China's biggest e-commerce company said sales topped $30 billion over a 24-hour period Sunday, soaring past last year's record of about $24 billion. Alibaba started offering Singles Day discounts in 2009 and has since turned the day into a 24-hour bonanza of online shopping in China. Other Chinese e-commerce platforms like JD.com and regular brick-and-mortar stores also take part. International companies flock to Alibaba's celebrity-studded live telecast and its various online platform. Imported goods make up a significant amount of sales. (Alibaba Singles Day sales top $30 billion, by CNN)
Comment
As China strengthened its protection on IPR, its business environment has been optimized gradually, attracting more and more foreign enterprises to participate in Singles Day. The Day already is not only a carnival of Chinese consumers, but also a global shopping festival.
(Editor Shao Jingjing)
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