（Photo: VCG）

Gross merchandise volume (GMV) surpassed 10 billion yuan on Alibaba's online e-commerce platform Tmall in a mere of two minutes and five seconds at this year's Double 11 shopping bonanza.

The figure beats last year's record, which stood at 10 billion yuan in 3 minutes and 57 seconds.

In the first hour of the shopping festival, the figure jumped to 9.7 billion US dollars. And after 48 seconds, the transaction volume hit the 10-billion-US dollar mark.

At 01: 47: 26 of November 11, Tmall GMV skyrocketed to 100 billion yuan, exceeding 91.2 billion yuan the full-day turnover made on the same day of 2015.