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China's 24-hour shopping gala: more tech, fewer deals?

Reuters  |  SHANGHAI 

By Adam JourdanSHANGHAI (Reuters) - Singles' Day, once a celebration for China's lonely hearts and now the world's biggest shopping spree, opens at midnight on Friday, with millions of shoppers eager to snap up cut-price deals.At a star-studded event in Shanghai, e-commerce giant Alibaba will count down the clock for the annual Nov. 11 event - a 24-hour extravaganza that outsells the U.S. Black Friday and Cyber Monday sales combined, and acts as a barometer for China's consumer spending. Alibaba alone saw $17.7 billion of goods sold on its platform at last year's Singles' Day.Around China, ...

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First Published: Fri, November 10 2017. 18:29 IST