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HomeBusinessAlibaba and JD.com Rally as China’s 618 Shopping Festival Sparks Consumer Surge

Alibaba and JD.com Rally as China’s 618 Shopping Festival Sparks Consumer Surge

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Shares of Alibaba and JD.com soared on Wednesday, lifted by strong early results from China’s annual 618 Shopping Festival, signaling a rebound in consumer demand driven by state-backed subsidies.
ADRs Surge on Strong Festival Kickoff

Alibaba (NYSE:BABA) gained 3.4%

JD.com (NASDAQ:JD) rose 2.6%

The rally followed a report by the South China Morning Post, which highlighted triple-digit sales growth across major consumer electronics and home appliance categories, thanks to government-supported trade-in incentives.
Key Drivers of Growth
1. Explosive Early Sales

Alibaba’s Taobao and Tmall Group (TTG) reported a 283% year-on-year surge in sales of subsidy-eligible electronics and appliances from May 13 to May 26

JD.com saw a 380% year-on-year jump in similar categories during just the first hour of its May 30 campaign launch

These figures reflect robust consumer response to Beijing’s rebate program, which offers up to 2,000 yuan ($278) per qualifying item.
2. Strategic Government Support
This year’s festival coincides with the expanded national trade-in program for 2025, aiming to stimulate domestic consumption. The incentives have significantly boosted spending on:

Smartphones

Televisions

Refrigerators

Other large home appliances

TTG noted that subsidy-backed categories are leading the charge, proving the policy’s ability to shift consumer behavior even amid economic uncertainty.
What Is the 618 Shopping Festival?
Launched by JD.com in 2010 to celebrate its June 18 anniversary, the 618 Festival has evolved into China’s second-largest e-commerce event, trailing only the Singles’ Day (11.11) promotion. It is now a nationwide sales extravaganza involving all major e-commerce players.
Implications for Investors
The performance of Alibaba and JD.com during the early stages of 618 offers positive signals for Chinese consumer confidence, a key metric closely watched by global investors amid broader concerns over China’s economic slowdown.
For those tracking sector-specific opportunities:

Use the Revenue Product Segmentation API to analyze e-commerce revenue trends by category

Track the companies’ latest disclosures via the SEC Filings API

Final Word
The early success of the 618 Shopping Festival shows how policy-backed consumption can reignite e-commerce momentum in China. If the trend continues through June, both Alibaba and JD.com could post stronger-than-expected Q2 earnings, providing a timely boost for investor sentiment in the Chinese tech sector.

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