Here's a recap of the boggling numbers from Saturday's Single's Day shopping event RMB168.2 billion more than US$25.3 billion in GMV gross merchandise volume for Alibaba, plus RMB127.1 billion roughly US$19.1 billion for closest competitor JD during the same sales period. “Today was an Olympics of commerce,” Daniel Zhang, Alibaba CEO, told media on Saturday midnight.
Basic laws of economics don’t always prove to be true,...
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