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The 'Alibaba effect' goes global

Singles Day no longer limited to China, as tech and shopping trends change

Singles Day transactions exceeded 10 billion yuan ($1.5 billion) in the first three minutes of sales on Nov. 11. (Photo by Daisuke Harashima)

SHANGHAI -- China's Singles Day festival on Saturday generated a record 168.3 billion yuan ($25.3 billion) in sales on Alibaba's online platforms, up 39% from a year earlier, the e-commerce conglomerate said.

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