Alibaba rakes in record US$84bil in Singles' Day sales

Warehouse staff members sort parcels at the Guizhou express logistics park in Longli county, Guizhou province on Nov 9. - China Daily

BEIJING (Reuters): Chinese e-commerce giant Alibaba Group Holding had a record 540.3 billion yuan (US$84 billion) in orders, or gross merchandise value (GMV), over its 11-day Singles' Day sales event, marking a roughly 14 per cent increase from the year prior.

The results come as overall consumption in China slows, and cap a relatively muted version of a sales festival that Alibaba once aggressively promoted.