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China Gears Up For World’s Largest Online Shopping Festival

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A delivery man passes by an ad for the Nov. 11 Sales Day in Beijing, China on Oct. 28, 2020. Chinese consumers are expected to spend tens of billions on everything from fresh food to luxury goods during this year's Singles' Day online shopping festival, as the country recovers from the coronavirus pandemic. (AP Photo/Ng Han Guan)

(AP) — Chinese consumers are expected to spend tens of billions of dollars on everything from fresh food to luxury goods during this year’s Singles’ Day online shopping festival, as the country recovers from the pandemic. The shopping festival, which is the world’s largest and falls on Nov. 11 every year, is an annual extravaganza where China’s e-commerce companies, including Alibaba, JD.com and Pinduoduo, offer generous discounts on their platforms. Last year, shoppers spent $38.4 billion on Alibaba’s e-commerce platforms Tmall and Taobao. This year’s festival will be closely watched as a barometer of consumption in China, which is beginning to bounce back from the coronavirus pandemic after months of lockdowns earlier in the year.

 

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