Premier Li Keqiang's recent comments on the role domestic consumption has to play in the economy are well timed as China's annual "Nov 11" 24-hour online shopping marathon is just around the corner.

Nov 11, widely recognized as "Singles' Day", has become China's biggest annual commercial holiday and a huge e-commerce success story, with thousands of discounts and record-breaking sales.

Last year, Alibaba Group Holding Ltd, China's e-commerce giant and the original promoter of Singles' Day, recorded a 83 percent year-on-year increase on its two online platforms - Tmall.com and Taobao.com - with sales reaching 35 billion yuan ($5.69 billion) thanks to the shopping carnival.