Finweek English Edition - - THE WEEK -

Con­cerns over the state of China’s econ­omy have caused much anx­i­ety in fi­nan­cial mar­kets this year, but if the an­nual Sin­gles’ Day shop­ping spree is any­thing to go by, there is no rea­son to be con­cerned. E-com­merce gi­ant Alibaba saw sales of more than $1bn within the first eight min­utes, while to­tal sales sur­passed $9bn in the first 12 hours. Last year, Alibaba’s to­tal sales on Sin­gles’ Day, the world’s big­gest on­line shop­ping event, were $9bn.

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