Summary
Chinese retailer Alibaba Group Holding Ltd. said Monday that sales for its annual Singles' Day shopping blitz crossed the $30 billion mark at 4:31 p.m. (08:31 GMT), putting the event on track to set a record in its 11th year.
Sales growth for Alibaba on Singles' Day has weakened as China's economy slowed.
Citic Securities forecasts sales to rise 20-25 percent this year.
Sales hit $1 billion after one minute and eight seconds and reached 158.31 billion yuan ($22.6 billion) in the first nine hours, up 25 percent from the same point last year, Alibaba said.
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