China spends billions on Singles

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China spends billions on Singles
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Chinese consumers are spending billions of dollars shopping online for anything from diapers to diamonds on Singles Day, a day of promotions that has grown into the world's biggest e-commerce event. Also known as "Double 11" for the November 11 date, the shopping event was launched by e-commerce giant Alibaba. ( AFP ) Alibaba says sales by thousands of retailers on its platforms had exceeded $20 billion by early evening Saturday in a count that started at midnight Friday. ( AP ) Alibaba is investing heavily in creating an entire user ecosystem encompassing cloud computing, artificial intelligence, automated stores using face-recognition, and is pushing into overseas markets under much-travelled boss Jack Ma, one of China's richest men. ( Reuters ) Environmentalists accuse Alibaba and other e-tailers of fuelling a culture of excessive consumption and mountains of waste. Greenpeace said Singles Day deliveries last year created 130,000 tonnes of packaging waste, less than 10 percent of which is recycled. ( R ...

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