China's biggest shopping event starts five weeks early to revive spending

China's largest shopping festival, Singles' Day, has started five weeks earlier than usual this year in an effort to revive consumer spending. Traditionally held on November 11, the annual event has been extended to run from October 24 to November 11 in 2022. This move by Chinese e-commerce giants, such as Alibaba and JD.com, is a response to the country's sluggish economic growth and weaker consumer demand due to the ongoing COVID-19 pandemic. By starting the shopping extravaganza earlier, the companies aim to stimulate consumer spending and boost retail sales during a challenging period. The extended Singles' Day shopping festival will feature various promotions, discounts, and new product launches across multiple online platforms. This strategy is expected to provide a much-needed boost to China's economy, which has been grappling with the impact of strict COVID-19 measures and global economic uncertainties.