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"Essentially, blockchain can deal with the trust issues in the virtual world, as all transactions based on the technology are verified through the whole network to ensure the uniqueness of transactions, without mediation," said David He Dayong, managing director of BCG and leader of the firm's financial institutions and insurance practice in China.

"Facebook remains unwilling to take significant steps to remove political propaganda from its platform," Derrick Johnson, the NAACP's president and CEO, said in a statement.

"Development of new competitiveness－including technology, brands, quality and services－is reasons behind the increased transactions for Chinese exporters," said Xu, also deputy director of the China Foreign Trade Center.

"Due to the COVID-19 travel restrictions, there is significant growing demand for imported goods among Chinese consumers," Liu told an event kicking off the Double 11 campaign for foreign merchants. "International brands need a trusted channel for reaching Chinese consumers, while domestic shoppers are looking for ways to buy more quality products from abroad."

"Due to a later than usual Thanksgiving holiday, we saw retailers offering omni-channel sales earlier this season, meeting consumers' demand for the best deals across all channels," Steve Sadove, senior adviser for Mastercard and former chairman of Saks, said in a statement. "E-commerce sales hit a record high this year with more people doing their holiday shopping online."