Alibaba posts record sales for Singles Day, but growth is slowing

But its momentum is seriously slowing down as China’s Crackdown woesA sweeping government crackdown over private business also cast a shadow over this year’s Singles Day.Beijing last year launched sweeping campaign against a wide range of industries, and e-commerce firms have been under particularly harsh scrutiny.Alibaba was hit earlier this year with Last week, The company said it would showcase energy-efficient products on its services and give out 100 million yuan ($15.6 million) worth of “green” vouchers meant to encourage people to buy more sustainable products. It also wanted to reduce the event’s carbon footprint by recycling the packaging it uses.The company also said it wanted to support “vulnerable populations,” and its Taobao app has introduced a “senior mode” option. The new feature is designed to be more accessible for the elderly with an updated interface and voice-assisted technology.JD.com also announced this year’s Singles Day would be “the largest one where renewable energy is used, and one where [JD.com] will push for a reduced carbon footprint.”CNN Business’ Paul R. La Monica contributed to this report.