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Alibaba scored another record year during the 11.11 shopping festival with a 27% increase in merchandise sales, despite a slowing Chinese economy but continued quick gains in the e-commerce market.
From artificial intelligence to datacentre cooling, machine learning, and blockchain, Alibaba used new technology to surpass its record 11.11 Global Shopping Festival sales figure set last year by 45.3 billion yuan.
Chinese e-commerce giant Alibaba filled a record $30.7 billion in orders on Sunday during its annual 'Singles Day' shopping frenzy, but growth slowed from previous years.
Alibaba Group hit $30.7 billion in sales for its annual Singles' Day shopping extravaganza.
China's online shoppers ring up more than $40 billion in purchases during the nation's annual Singles Day, an event which began as a celebration for unattached university students but has been co-opted by online retailers.
The 10th annual Chinese shopping bonanza Singles’ Day has generated a record $30.
Chinese e-commerce giant Alibaba Group Holding Ltd cashed a record 213.5 billion yuan ($30.7 billion) in sales on Sunday during its 24-hour online retail frenzy Singles' Day, but the event's annual growth dropped to its slowest rate.