• Alibaba, JD enjoy record Singles Day despite tech crackdown

    22 days ago - By Fashion United

    Chinese ecommerce 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 540.3 billion yuan was spent as China's army of consumers went on a splurge, despite a much lower-key sales campaign following pressure from the government to tone down the aggressive promotions and rampant consumerism.
    Combined sales with industry rival JD.com came in at 889 billion yuan
    - equivalent to the GDP of many...
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