Chinese spend 10 blns RMBs in 96 seconds

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HANGZHOU: China’s Singles’ Day sales on TMall hit 10 billion yuan (about 1.44 billion U.S. dollars) at just one minute and 36 seconds after midnight on Monday.
According to Alibaba, owner of TMall, more than 22,000 overseas brands from 200 countries and regions have participated in this year’s shopping spree in China.
The e-commerce giant launched the annual online shopping promotion on Nov. 11, 2009, a day celebrated by many Chinese young people as Single’s Day. The date was chosen because 11-11 resembles four “bare sticks,” a Chinese term for bachelor.–Agencies