Alibaba's Jack Ma expects Singles' Day to show at least 50 pct growth each year

Alibaba's Jack Ma expects Singles' Day to show at least 50 pct growth each year

Alibaba founder and chairman Jack Ma gestures as he attends Alibaba Group's 11.11 Global shopping festival in Beijing, China, November 10, 2015. REUTERS/China Daily

Alibaba Group Holding Ltd‘s annual Singles’ Day shopping festival should have 50 percent growth each year, founder and executive chairman Jack Ma said in Beijing on Wednesday. Singles’ Day is the biggest shopping event in the world, larger than the United States’ Black Friday and Cyber Monday combined.

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