https://apnews.com/bb868711488248ed8d3504656bfd947a

HONG KONG (AP) — China’s biggest online shopping day, known as “Singles’ Day” on Nov. 11, is taking on a muted tone this year as regulators crack down on the technology industry and President Xi Jinping pushes for “common prosperity.”

The Singles’ Day shopping festival — also known as Double 11 — is a massive event for China's e-commerce companies. Last year, consumers spent $74 billion on Alibaba’s online shopping platforms over the 11 days of the festival. Smaller rival JD.com reported $40 billion in sales during a similar time frame.