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Today is the biggest online shopping day worldwide, and it's in China, WSJ says

On November 11, millions of Chinese shoppers turn to e-commerce websites operated by Alibaba Group Holding, and spend more on those sites during that one day of discounts than Americans do on all online retailers on Black Friday and Cyber Monday combined, reports the Wall Street Journal. Alibaba is planning for what could be the biggest technology IPO since Facebook (FB),and is recognized as the dominant player in China's e-commerce industry. The company's two main shopping sites are Taobao and Tmall.