The Trader 

Market Outlook: China spends $24 billion on line

The Trader

Yesterday was Singles Day in China, a celebration dreamt up 10 years ago by internet giant Alibaba, always falling on the 11th November (because of all the ones of that date) and an antidote to Valentine’s Day. This compares to the latest Amazon Prime’s $4 billion and is bigger than all Black Fridays and Cyber Mondays put together, and the $7.8 million in its first year. China Internet Network Information claims there are 802 million internet users in the country.

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