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(Bloomberg) Alibaba Group Holding Ltd. and JD.com Inc. reported sales increases during China’s most important shopping festival, yet likely lagged newer entrants from social media platforms like ByteDance Ltd.’s Douyin during a muted year for consumer spending.Most Read from BloombergBiden Has Wiped Away $127 Billion in Student Loan DebtXi Jinping’s ‘Old Friends’ From Iowa Get a Dinner InvitationAn Opioid-Like Drink Is Masquerading As a Wholesome Alcohol AlternativeTrump’s 40 Wall St. Loan Tr

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