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Do Central Bankers Know Best? Montagu Norman and the BIS

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Singles’ Day 2025 – China Online Retail Data

Singles’ Day 2025 – China Online Retail Snapshot

Total Sales by Channel (Billion Yuan)

Sales Breakdown by Channel

Channel 2025 Sales (Billion Yuan) Year-on-Year Growth
E-commerce Platforms 1,619 12.3%
Instant Retail 67 138.4%
Community Group & Other 9 ≈ 15%
Total 1,695 14.2%
Source: Syntun via China Daily / China.org.cn (2025) Link

Year-on-Year Growth Comparison (2024 vs 2025)

Estimated Category Distribution – Share of GMV

Note: Category breakdown is an estimate based on available disclosures. Top categories include Household Appliances (~13.4%), Phones (~11.8%), and Clothing (~11.5%) totaling ~37% of GMV. Link
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