Chinese consumers spend more than $30 billion on Singles’ Day

Alibaba Singles’ Day for 2018 was yet another record breaker. The gross merchandise value totaled RMB 213.5 billion (around $30.8 billion) this year.

GMV surpassed last year’s RMB 168.2 billion ($25.3 billion) in less than 16 hours.

GMV hit RMB 50 billion in 26 minutes and 2 seconds, almost 15 minutes faster compared with 2017.

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