Chinese online shopping festival is just around the corner

As we all know, tomorrow is Nov 11, it be widely recognized as "Singles' Day", has become China's biggest annual commercial holiday and a huge e-commerce success story, with thousands of discounts and record-breaking sales. Last year, Alibaba Group Holding Ltd, China's e-commerce giant and the original promoter of Singles' Day, recorded a 83 percent year-on-year increase on its two online platforms - Tmall.com and Taobao.com - with sales reaching 35 billion yuan ($5.69 billion) thanks to the shopping carnival. 
According to State-run broadcaster CCTV's latest online survey, among the 5,584 users registered with real names, 82 percent submitted budgets for the upcoming shopping festival, with most budgets recording year-on-year increases. Laptops and clothing remain the most desirable categories. Alibaba's performance shows how much China's online consumption, a key growth driver in the central government's outlook, is booming. 

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