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CHINA'S largest e-commerce group yesterday reported record transactions of 1 trillion yuan (US9 billion) in the first 11 months of this year, or equivalent to 5.4 percent of the country's total retail sales last year.

Alibaba.com said its consumer-to-consumer site Taobao.com achieved 800 billion yuan of sales and the business-to-consumer arm Tmall generated around 200 billion yuan. The total f
THERE was excitement but a little heartache too for millions of bargain hunters yesterday as China's Singles Day evolved into what is probably the world's biggest online shopping event.

The 50,000-plus merchants on Alibaba's consumer-oriented Tmall.com took in 13.2 billion yuan (US$2.1 billion), the company said, after discounts of at least 50 percent were promised on a massive range of goods.
MALL, the business-to-consumer shopping site under China's largest e-commerce firm, the Alibaba Group, yesterday said it will offer 1 billion yuan (US$159 million) in discounts to consumers as well as subsidy for external vendors in the second half to boost sales.

Tmall's move was seen as a response to a similar sales campaign by rival 360buy.com.

Tmall said yesterday it would offer cash vo
t's a summer of competition everywhere. While a soccer championships in Europe arouses spectators' enthusiasm, Chinese e-commerce websites are waging a battle of their own for consumers' eyeballs as they fight a price war.

Almost all of the top 10 e-commerce players are offering large discounts and rebates to users, part of their effort to attract customers and gain an upper hand in the market
The changing situation is clearly visible in the robust double-digit growth rates seen during the past few years. More importantly, in what is good news for the retail trade, the future looks bright for China, as demand is set to escalate further on the back of increased spending power and a growing number of affluent people in China.

The real catalyst for the retail boom in China has been the


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