Alibaba Singles Day sales growth slows to lowest ever rate

Singles Day

Alibaba has posted an increase in sales at its annual Singles Day shopping extravaganza, but growth slowed to its lowest rate since the festival began more than a decade ago.

The Chinese ecommerce giant said gross merchandise volume hit ¥540.3bn (£63.1bn) across the 11-day event, also known as the 11/11 Global Shopping Festival.

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