Itis"oneofthefewbrightspotsintheChineseeconomy"saysZengMing.Heistalkingaboute-commerce.MrZengthechiefstrategyofficerforAlibabaagiantChineseInternetfirmpredictsthatdigitaltransactionsonhi
Itis"oneofthefewbrightspotsintheChineseeconomy"saysZengMing.Heistalkingaboute-commerce.MrZengthechiefstrategyofficerforAlibabaagiantChineseInternetfirmpredictsthatdigitaltransactionsonhisfirm'splatformswilltopltrillionyuan($159billion)thisyear-morethanAmazon'sandeBay'scombined.ThatisaboldclaimbutconsiderwhathappenedonSinglesSunday.
Inventedafewyearsagobystudentsandseizeduponbydigitalmarketersthisfestivalforlonelyheartsfallsannuallyonthe llthdayofthellthmonth(sincelistheloneliestnumber).ItislikeStValentine'sDayonlyworse.Singletonsshowereachotherwithtendergifts:abarrageofpearls;astormofsweets.
ThisNovemberllththeyspentasurprising19billionyuanonAlibaba'sonlineplatforms-afourfoldincreaseonayearagoandmorethandoublewhatAmericansspentonlinelastCyberMonday(theMondayafterThanksgivingwhenretailersurgeAmericanstoshoponline).About100mpurchaseswereloggedaccountingfor80%ofthepackagesshippedthatday.Couriers(怏递员)wereburiedinparcels.
SolifeisgoodforChina'se-tailersthen?Notexactly.Thenumberofdigitalmarketersisincreasingandonlinesalesarebooming.Consumersareenjoyinglowerpricesbetterserviceandmorevariety.Theproblem?ThepressureonprofitsinChinesee-commerceisworsethaninAmericareckonsElinorLeungofCLSAabroker."Almostnoonemakesmoney"shesays.
Thefiercestbattlesarebeingfoughtbetweenonlineretailersandtheirbricks-and-mortar(实体的)rivals.Dangdangafirm.thatresemblesAmazon.and360buyanotheronlineretailerhavecutpricesfiercely.Tencentacash-richonlinegiantknownforitsinstant-messagingsoftwareissplashingouttowinmarketshare.360buyhasalsojustraised$400mfrominvestorstodothesame.Butitisunclearhowmuchlongersuchfirmscanburnthroughcapital.
1.What'sthebesttitleofthispassage?
A.TheAmbitionofAlibaba
B.FierceCompetitionbetweenRetailers
C.ANewlySprungFestivalfortheSingles
D.ChineseBoomingandDevelopingE-commerce
2.AccordingtoZengMingthisyearAlibabawill .
A.outweighAmazonandeBayinworldwideinf