JD.com Singles’ Day Sales Jump to Record Despite China Deflation

One of China’s biggest e-commerce platforms said it generated record sales during the country’s massive annual online shopping gala, belying concerns that persistent deflation is discouraging consumers from spending in the world’s No. 2 economy.

JD.com Inc. said orders surged nearly 60% during this year’s Singles’ Day event, though it didn’t disclose the transaction values in a statement posted on its WeChat social media account. The company also reported a 40% increase in shoppers, compared with a more than 20% rise last year.