Alibaba staff dry quilts for company employees to rest in prepapration for the upcoming 11.11 global shopping festival, also called Singles' Day shopping festival, in a yard of Xixi campus of Alibaba Group in Hangzhou, Zhejiang Province, China November 3, 2016. REUTERS/Stringer ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. EDITORIAL USE ONLY. CHINA OUT. NO COMMERCIAL OR EDITORIAL SALES IN CHINA. TPX IMAGES OF THE DAY
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 (RM58.48bil) last year and are expected to grow this year.
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