On 'Double 11' Day, Alibaba and Others See Exponential Growth in E-Sales
(Beijing) – In China, November 11 is called "Double 11," but the country's popular e-commerce companies enjoy sales exponentially greater than the average day.
In less than six minutes, around 1 billion yuan worth transactions were processed on Alibaba Group's online shopping sites Taobao and Tmall.
Alibaba started the shopping tradition in 2009. Net users had already made it something of a special day every year by playfully referring to November 11 – or 11/11 – as "singles day."
- A Five-Minute History of Hong Kong
- High Risk
- Fighting for Breath
- Graphic: Level of Distrust
- Forsaking the Fluff, China Joins the Cloud
- Media Watch: Xinhua, People's Daily in Rare Tussle, over Rate Cuts
- Watchdog Repeats Order to Remove Net TV Apps from E-Stores
- Peng Visits Delhi
- iPhone 6 Launch
- Sign up to receive our free daily newsletter
- Coming to Grips with Ammonia in China's Haze
- After Years of Dominance, UnionPay's Enemies Arrive at the Gates
- New-Energy Car Market Is Open Road, BYD CEO Wang Chuanfu Says
- Amid Market Downtown, China's Developers Dig In
- PBOC Punishes Payment Companies for Mishandling Bank Card Transactions
- The Long Journey to the Rule of Law
- Nudging China toward Overall Governance Reform
- Official in Shanxi City 'Falls to His Death after Facing Investigators'
- Thieves' Large Haul Puts Two City Officials in Crosshairs of Graft Inspectors
- Cabinet Said to Mull Reforms to Country's Nearly 1,800 State-Owned Farms