China regulator warns e-commerce firms on ‘Singles Day’ sales tactics

China's business regulator said it has warned leading online shopping companies, including Alibaba Group Holding and, against adopting dodgy sales tactics at the upcoming "Singles Day" festival, China's biggest shopping day of the year. The stakes are high in the one-day event, held annually on Nov. 11, which sees billions of dollars of goods sold online at steep discounts, and is watched as a barometer for the e-commerce industry and consumer economy in China as a whole. Alibaba's transactions alone exceeded $14 billion last year and are expected to grow this year.

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