Alibaba promises major discounts ahead of China's 'Singles Day' shopping event

Alibaba promises major discounts ahead of China's 'Singles Day' shopping event

FILE PHOTO: An advertisement to promote Alibaba's Singles' Day shopping festival is pictured in Shanghai, China November 11, 2021. REUTERS/Aly Song/File photo

E-commerce giant Alibaba Group said it will be offering huge discounts as it gears up for its annual Singles Day shopping extravaganza – an indication that Chinese consumer confidence remains at a low ebb.