Alibaba launches charity campaign on 'Singles Day'

China's e-commerce leader is using a massive annual sales campaign for a charity initiative. Alibaba's promotion is in line with the government's policy of narrowing the wealth gap.

"Singles Day" takes place in the country every November 11, when retailers offer bargains to online shoppers.

This year, Alibaba Group Holding is making donations in proportion to its sales.

The leadership of President Xi Jinping is tightening control of online retailers and other tech giants, while vowing to achieve "common prosperity."

Alibaba did not hold a countdown event this year, citing the need to prevent coronavirus infections.

Business on Singles Day has been expanding in scale over the years. Alibaba earned about 77 billion dollars during last year's 11-day campaign period. Rival pulled in about 42 billion dollars.