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Economy

Chinese trends of 2016 help explain economic resilience

New ideas and experiences fuel consumption and growth

Bicycle-sharing services are getting popular in China.

Everyone is worried that with the Chinese economy sneezing, the world is catching a cold. But consumption in the country remains resilient. So what is driving the growth? Let's take a look at the Chinese consumer hits of 2016.

Last year's champions were Singles' Day and 618, the two massive online sales campaigns. Although they are nothing new, last year's Singles' Day -- the Nov. 11 celebration of being single -- drew 120.7 billion yuan ($17.6 billion), a record amount of money spent within 24 hours. They surely had a big impact not only on Chinese consumers but also on the world.

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