The Double 11 Global Shopping Festival, China's largest online shopping event concluded on Monday, with sales expected to set new records.
The number of shopping users on JD.com rose more than 20 percent from last year, and the order volume of JD.com's livestreaming procurement and sales increased 3.8 times.
According to data from Tmall under China's e-commerce giant Alibaba who created the festival, the total transaction volume has grown significantly, as of midnight on Monday.
This year, China has been promoting large-scale equipment upgrades and trade-in programs for consumer goods, aiming to boost domestic demand and support continuous economic growth.
As of early November, the trade-in programs had seen over 30 million consumers participating and brought more than 400 billion yuan in sales, according to the country's Ministry of Commerce.
During the "Double 11" shopping festival, the state's trade-in subsidy has been added to the festival discounts provided by e-commerce platforms for the first time, creating combined offers that drive consumption.
Double 11 shopping spree concludes with record-high transaction volume
