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Chinese spending hits record high on Singles' Day

13/11/2019 - 13:53

Chinese consumers spent a record amount on Alibaba platforms on Monday during the annual “Singles’ Day” buying spree, the world’s biggest 24-hour shopping event, which was launched with a glitzy show by US singer Taylor Swift.  

The country’s leading e-commerce firm said that by late afternoon the number of goods bought surpassed the previous record of $30.7bn (R456.4bn) spent during the entire 24-hour period in 2018, and was still rising with several hours to go. China’s economy is in an extended slowdown worsened by the US trade war, and the Si... 

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