BUSINESS China's Single's Day sales hit 38.3 bln USD

BUSINESS

China's Single's Day sales hit 38.3 bln USD

Xinhua

09:33, November 12, 2019

HANGZHOU, Nov. 12 (Xinhua) -- China's Singles' Day sales on TMall hit 268.4 billion yuan (about 38.3 billion U.S. dollars) on Monday.

According to Alibaba, owner of TMall, more than 22,000 overseas brands from 200 countries and regions have participated in this year's shopping spree in China.

The e-commerce giant launched the annual online shopping promotion on Nov. 11, 2009, a day celebrated by many Chinese young people as Single's Day. The date was chosen because 11-11 resembles four "bare sticks," a Chinese term for bachelor.

Sales of Tmall's first shopping festival totaled about 52 million yuan. Alibaba's Single's Day sales reached 213.5 billion yuan last year.

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