The Alibaba Group of China has once again set a new record at the '11 .11 '(Pair 11) shopping day, the biggest discount event ever held.

According to China Daily News and China Daily, Alibaba, China's largest e-commerce company, will trade 10 billion yuan (about 1.6 trillion won) in 2 minutes and 5 seconds after the start of 0:00 am on the 10th anniversary of the 11th of November. .

This is a one-minute advance for the last three minutes and one second.

It took 1 hour 47 minutes for the transaction to exceed 100 billion yuan (about 16.2 trillion won).

Chinese and foreign buyers have flocked to various sites in Alibaba, including T-Mall (Tian Mao), to buy electronics, imported cosmetics and tickets.

Among the most popular brands were Xiaomi, Apple, and Dyson, which is especially famous for hair dryers in China, Alibaba said.

Alibaba opened the night before in Shanghai where singer Mariah Carey and "Circus of the Sun" participated in the night before.

The '11 .11 'event was also called' Pair 11 'in China and also known as' Solo Day' (Gwang Gunje).

Alibaba started 10 years ago, but now it is participated by rivals such as JD dot com, and it goes online and various discount stores are held before and after this day in various offline stores.

While China's economy is under downward pressure due to the US-China trade war, '11 .11 'is attracting attention as an opportunity to get a glimpse of Chinese consumer sentiment.

Last year, Alibaba's '11 .11 'increased by 39% over the previous year to 168 billion yuan worth of goods sold for 24 hours, more than the combined value of Black Friday and CyberDay in the United States.

Data analysis firm 'App Annie' predicted that this year's Alibaba event would exceed $ 32 billion ($ 36.1 trillion), or more than $ 25.3 billion last year ($ 28.6 trillion).

(Photo: Yonhap News)