Chinese retailers have extended their Singles' Day sales period to up to five weeks in a bid to boost consumer spending amid economic headwinds, reported Reuters.

E-commerce giants such as Alibaba and JD.com are lengthening the annual shopping event to attract buyers in a sluggish market. China's economy has faced weak consumption this year due to trade tensions with US President Donald Trump, fierce local competition, extreme weather and a persistent property crisis.

At a launch event in Shanghai, Alibaba announced an "unprecedented" investment in the promotion, including CNY50 billion (US$7 billion) in subsidies for its high-spending 88VIP members.

The extended sales period began Wednesday and will continue until November 11, the traditional Singles' Day, named after the digits in the date.