• Reuters, Bloomberg

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Chinese retailer Alibaba Group Holding Ltd. said Monday that sales logged from its annual Singles’ Day shopping blitz crossed the $30 billion mark late Monday afternoon, putting the event on track to set a record in its 11th year.

Akin to Black Friday and Cyber Monday in the United States, Singles’ Day has been promoted as a shopping festival by Alibaba Chairman and Chief Executive Daniel Zhang since 2009, growing rapidly to become the world’s biggest online sales event.

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