TAOBAO Marketplace, China's largest online shopping website, yesterday said the highest single day transaction volume last year tripled that in the previous year.

On December 12, when Taobao's C2C unit cut prices by 50 percent, it recorded 4.38 billion yuan (US$695 million) in sales volume, it said in a statement.

The highest number of daily unique visitors of Taobao more than doubled from that of the previous year's figure to 120 million, it said.