Chinese shopper buys flat for US$1.7 in Double 11 stunt; GMV tops US$240B

A Chinese shopper purchased a 68-square-metre flat for 11 yuan (US$1.7) during the Double 11 shopping festival, a promotional stunt by e-commerce platforms. The festival generated over 1.6 trillion yuan (US$240 billion) in online gross merchandise value last year, underscoring the scale of China's consumer market. The event signals robust domestic consumption, though the flat sale is a marketing gimmick with limited economic significance.

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