Singles Day sales shatter record

By MENG JING in Shenzhen | | 2016-11-11 11:12

Singles Day sales shatter record

Jack Ma smiles as a giant screen shows the remarkable sales volume that indicates Alibaba's sales on path to surpass 120 billion yuan. [Photo provided to]

Alibaba Group Holding Ltd, China's e-commerce giant, on Friday set another sales record for Singles Day, the world's biggest online shopping event, reporting that about 120.7 billion yuan ($17.79 billion) was spent in 24 hours.

Alibaba, which created the annual shopping festival on November 11, 2009, said that this year's sales far exceeded last year's 92.1 billion yuan in transactions.

Jack Ma, executive chairman of Alibaba Group, said he was very satisfied with this year's sales.

"We hope November 11 is a festival that bring happiness to both shoppers and merchants and it can be a force that drives the improvement of the commerce infrastructure in China," he said.

Ma made his comments in Shenzhen where Alibaba held an event and invited 600 media from China and abroad to witness the real-time transactions of merchandize sold on its platforms.

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