Alibaba online event sees $56b sales in single day as downunder companies race to meet surging demand from China's middle class

Chinese online retail giant Alibaba sells $56 billion of products in a single day in the world's biggest online shopping event. 

Australian companies are now racing to get on to the lucrative Alibaba platform selling cosmetics, vitamins, adult powdered milk and baby products boosted by the easing of China's one child policy. 

ABC's Peter Ryan speaks with Alibaba Australia and New Zealand managing director Maggie Zhou and entrepreneurs Jessica Rudd and Elizabeth Barbalich.

Here's my report from The World Today