Singles Day madness, more media censorship, and sex dolls – just another seven days in the world’s most populous country! Here’s our roundup of the week’s top stories from China.
1. China’s ‘Cyber Monday’ ends with $5.7 billion spent in 24 hours on Alibaba’s e-stores
That massive $5.7 billion figure counts only Tmall and Taobao customers who paid via the company’s own Alipay (like Paypal), so the total spending amount will be higher once all payment methods are totaled up.
2. Xiaomi brings in an astonishing $90 million in sales within 24 hours during Chinese e-commerce blowout
Xiaomi also reports that it ranked as the top grossing single-product line store on Tmall, as well as the top grossing cellphone store on Tmall.
3. $4.1 million missing after a Bitcoin trading site in China goes dark
The site went down on October 26, and the case is currently under investigation by the Hong Kong police.
4. China’s Jingdong ends 11/11 shopping spree, sees customers spending $1.6 billion
It’s a strong figure from China’s second largest online shopping mall, but the number is still dwarfed by the $5.7 billion spent on Alibaba’s Tmall and Taobao.
5. Chinese clothing e-tailer Vancl gets $100 million more funding, probably not bothering with IPO
Vancl – which also has an open marketplace for clothing-related merchants called V+ – is still dogged by rumors of financial problems.
6. Sony CEO says company working on selling PlayStations in China
This could result in the PlayStation being sold legally in China for the first time ever.
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