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Chinese state newspaper blasts ‘worship of turnover’ after Alibaba’s Singles Day

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SHANGHAI (Reuters) – The focus of China’s Singles’ Day shopping festival should shift from a “traffic and sales war” to one of science and technology, a state-backed newspaper said on Friday, describing the “worship of turnover” as incompatible with China’s new development path. The article in the Securities Daily comes a day after the annual shopping blitz spearheaded by Alibaba Group, which recorded 540.3 billion yuan in orders over the 11-day event. The newspaper said the event had achieved many years of record breaking sales, but had also given rise to practices such as spam text messaging…

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