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JD, Chinese e-commerce heavyweight, reported its accumulated sales during the Nov 11 shopping carnival, which lasts from midnight of Nov 1 to 14:37 pm on Nov 11, reached a staggering 179.4 billion yuan ($25.6 billion).
China's major logistics firms are rolling up their sleeves for the delivery peak of the Double 11 shopping festival, which falls on Monday, with an increasing degree of automation.
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Chinese smartphone major Vivo and South Korean tech giant Samsung jointly unveiled a 5G chip on Thursday in Beijing, marking the former's latest push to showcase its increasing emphasis on beefing up its research and development capabilities.
Though tight pork supply may continue to push up China's consumer inflation level in the next few months, it is unlikely to induce price increases in a wide range of goods or sway the country's policy stance of growth stabilization, analysts said.
It took just 96 seconds for Alibaba Group to net the 10 billion yuan ($1.43 billion) worth of gross merchandise volume at midnight of Nov 11 as the internet conglomerate takes the annual shopping bonanza into its second decade.
Suning Holdings Group, China's largest omnichannel retailer by sales revenue, will open 150 smart retail offline stores dedicated to overseas products and consumption experience throughout China over the next three years, a senior executive said.
As consumption continued to be the main engine of China's economic growth, the country is stepping up efforts to create a favorable environment to further unleash consumption potential.
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