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Chinese Spend Billions Online on Singles Day

In a bright spot for China's cooling economy, online shoppers spent billions of dollars Friday on “Singles Day,” a quirky holiday that has grown into the world's busiest day for e-commerce. The country's biggest e-commerce brand, Alibaba Group, said sales by the thousands of retailers on its platforms passed 82.4 billion yuan ($12 billion) in the first 12 hours of the event. That is four times the $3 billion research firm comScore says Americans spent in total last year on...

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