Source: Overseas Network
recently published the title "What is the world's largest shopping festival? In the article "Double 11 of China", " Wall Street Journal " published an article that through Double 11, the development trend of China's economy can be observed and predicted.
"Wall Street Journal" pays attention to China Double 11 Shopping Festival
This year's Tmall Double 11 transaction volume reached 268.4 billion, a new record. The shining answer sheet of Double 11 provides important evidence for the deep driving force of China's economy and the huge potential for consumption. Tmall and Taobao President Jiang Fan said in an interview with the media that new consumption reflects China's strong domestic demand momentum and further activates new impetus for China's economic development. In fact, Tmall Double 11 has been increasingly used as one of the indicators for studying China's economy. In addition to the Wall Street Journal, AFP titled "Why the economy slows down on Tmall Double 11 on the day of Tmall?" The Chinese also clearly expressed the same view in the article "Generously donated money on Double 11".
AFP published the title "Why the economy slows down? Chinese people donated generously on Double 11" reported
AFP pointed out that as China's economic transformation deepens, economic growth is increasingly driven through domestic consumption. Online retail and mobile payments, which are at the forefront of the world, are increasingly making new consumption a highlight of China's economy.
