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Another reason driving the sales surge during the Singles Day event was that carmakers were making the most of probably the last major opportunity in the year to sell cars, after the conventional golden months of September and October.

Apparently this is causing quite the problem for some people.

Ant Financial now operates Alipay, one of the world's largest mobile and online payment platform, controlling more than 50 percent of China's mobile market where QR code, or quick response code, has become dominant in the digital payment sector.

Anxi is best-known for a green tea called Tieguanyin. However, it also has a reputation among law enforcement authorities as an incubator of telecom fraud. In a widely reported case in 2016, the death of an 18-year-old woman who was about to enter college was attributed to stress after fraudsters took her limited tuition money. Five of the six suspects came from Anxi.

Ant Financial Services Group has raised its agreed offer for electronic payment firm MoneyGram International Inc and the deal was unanimously approved by the US firm's board, outbidding rival Euronet Worldwide Inc.