China splurges on world's biggest online shopping spree

Chinese Internet users spent billions of dollars in the planet's biggest online shopping splurge Wednesday, as "Singles Day" hit new heights, despite slowing growth in the world's second-largest economy. The cumulative national bill for the day-long orgy of commerce dwarfed what Americans spent online over the five-day frenzy from Thanksgiving to Cyber Monday last year. Singles Day is not a traditional Chinese festival, but e-commerce giant Alibaba has been pushing November 11 -- a date heavy on ones -- since 2009 as it looks to tap the country's huge, and expanding, army of Internet shoppers.

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