China’s Alibaba, JD report booming Singles Day sales

Chinese e-commerce giants Alibaba and JD.com reported nearly $60 billion in sales Monday part way through Singles Day, an annual…

Chinese e-commerce giants Alibaba and JD.com reported nearly $60 billion in sales Monday part way through Singles Day, an annual marketing event that is the world’s busiest online shopping day. The day was a temporary relief to retailers that face fading demand as Chinese consumers, anxious over slowing economic growth and the tariff war with Washington, tighten their belts.

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