Alibaba posts record sales on Singles’ Day

China’s largest e-commerce company cashes in on its version of Black Friday

14 November 2021 - 00:00 By Bloomberg

Alibaba’s Singles’ Day shopping festival posted record sales of 540.3bn yuan (about R1.3-trillion), offering China’s largest e-commerce company a much-needed boost after a year of heightened regulatory scrutiny.    

Sales at the end of Thursday eclipsed the 498.2bn yuan official tally for 2020...

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