China’s consumers purchased RMB57.1 billion (US$9.3 billion) in goods yesterday through the Alibaba-owned (BABA.NYSE) shopping site Tmall on its annual Singles Day event, Bloomberg reported, citing a statement from the company. Alibaba also signaled it was open to working with EBay’s (EBAY.NYSE) PayPal service to expand payment options, with Vice Chairman Joseph Tsai adding that Alibaba viewed Apple’s (AAPL.NASDAQ) payment system as helping Chinese consumers when the company’s own finance affiliate, Alipay, isn’t accepted. Sales during this year’s Singles Day promotion (“11/11”) beat last year’s record of RMB36.2 billion within 14 hours.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved