Beijing: China is gripped by "Singles' Day" online shopping frenzy, with the Chinese e-commerce giant Alibaba fetching about USD 22.63 billion in the first nine hours of the world's biggest 24-hour shopping event.
"Singles' Day" - also known as "Double 11" - is a Chinese 24-hour online shopping bonanza held on November 11 every year. It was first launched in 2009 as an anti-Valentine's Day and a celebration of single life.
The Singles' Day sales collections hit 10 billion yuan (about USD 1.44 billion) at just one minute and 36 seconds after midnight on Monday, state- run Xinhua news agency reported.
According to Alibaba, more than 22,000 overseas brands from 200 countries and regions have participated in this year's shopping spree in China.
In the first nine hours, the sales hit USD 22.63 billion which is two thirds of last year's final sales tally of USD 30.8 billion, the Hong Kong-based South China Morning Post owned by Alibaba reported.
