Investing.com - Chinese e-commerce giant Alibaba (N:BABA) Group Holdings said Wednesday the value of merchandise it has sold so far during the Singles' Day online shopping extravaganza had surpassed last year's total of $9.3 billion.
The company has turned November 11 into China's equivalent of U.S. shopping event Cyber Monday.
JD.Com, China's second largest e-commerce firm and Alibaba's chief rival, also said it broke past last year's full-day total just before noon China time, but did not give specific sales figures for the day.
Alibaba has dominated Singles' Day sales, which has raised the ire of rivals. This month, JD.com lodged a complaint with Chinese regulators saying Alibaba was "forcing merchants" to exclusively choose its site for promotional activities, a fact Alibaba denies