Whopping amount: Alibaba's transactions alone exceeded US$14bil (RM58.8bil) last year and are expected to grow this year.
SHANGHAI: China's business regulator said it has warned leading online shopping companies, including Alibaba Group Holding and JD.com, against adopting dodgy sales tactics at the upcoming "Singles Day" festival, China's biggest shopping day of the year.
The stakes are high in the one-day event, held annually on Nov 11, which sees billions of dollars of goods sold online at steep discounts, and is watched as a barometer for the e-commerce industry and consumer economy in China as a whole. Alibaba's transactions alone exceeded US$14bil (RM58.8bil) last year and are expected to grow this year.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
