eunice yoon report. >> reporter: china's double 12 is like a slimmed-down version of double 11. but it's growing and it's growing fast. and this year, double 12 is making a big international push. alibaba says 100,000 overseas stores will be taking part. 16 countries will be represented. including the u.s., canada, germany, and japan. the bestselling american brands for alibaba on double 12 are p&g, yum brands kfc, as well as burger king. double 12 is a little different to focus on offline events. so discounts at stores. today in china we saw long lines and from a major supermarket chains such as walmart as people were looking for major discounts on staples like vegetable oil as well as salt. another big difference is that double 12 tends to focus on smaller vendors and smaller brands. so all day today, some of the smaller vendors were live streaming themselves eating noodles, for example, that they like to sell, or showing off some of their popular clothing that they made, especially in women's fashion. it's part of this big international push. alibaba is expanding the using of

eunice yoon is live in beijing with the details >> double 12 is like a slimmed down version of double1, but it's still growing and growing fast a lot of traders are estimating that double 12 will rack up sales higher than $15 billion for alibaba's site one of the big differences for double 12 this year, there's a big international push alibaba says 100,000 overseas stores will be taking part as opposed to 70,000 last year. 16 countries will be represented, including the u.s., canada, germany, and japan the best selling american brands so far for double 12 and alibaba are p & g, their oil of olay shower gels are selling nicely, and yum brands and burger king are selling coupons that are selling out in minutes these are mainly for ham bugg gs hamburgers, and in kfc's case egg tarts. double 12 tends to focus more on offline events so discounts at stores today we saw huge lines in front of big supermarket chains, such as walmart, as people were waiting to buy some staples, like oil, vegetable oil, as well as salt. the other big difference is that the focus on double 12 seems to be on smal

. >>> turning overseas, the republican tax plan is causing concern in china eunice yoon is live in beijing us with the details. >> china is watching trump's tax plan with some trepidation, that's because ultimately it could threaten china's competitiveness. china is not any longer the paradise for factories a lot of companies have been complaining about the high costs for labor and the tax burden so people have been focusing on the loweringing of the corporate taxes, from 35% potentially to 21%. here in china. the corporate tax is 25% plus companies pay a 17% v.a.t., and even though chinese companies don't have to pay a state tax, they have to pay high payroll taxes. welfare and social insurance, that could run them between 40% to 100%. that is one big focus here officials are also fix ate efixn any moves which could mean companies are repatriating profits back home. the tax cut on repatriating tax deferred profits held overseas and dividends received from companies overseas that are tax exempt it is feared that will put more pressure on the renminbi b already we heard from the chinese vic