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Another advantage is that it can increase transaction efficiency, Shu added. A manager surnamed Yi at a bookstore in Shenzhen told China Daily that the monetary value of sales is deposited directly into the store's bank account and there is no need to operate another third-party account. However, Shu said customer choice dominates the future of the payment structure. As existing channels have covered nearly all consumption scenarios, the digital yuan needs to make breakthroughs for broader acceptance.

Annual Chinese visitor numbers for New York are expected to exceed 1 million by 2018, according to NYC & Co, the city's official destination marketing organization.

Another customer, teacher Rob Szarka, left a review on Amazon: "It's too early to report on whether wearing it in class has improved my students' understanding of chapter 9 of Mankiw's Principles of Economics, but I believe the bright red color I ordered did help them stay awake at8 am today."

Ant Financial announced on June 8 that it has completed a private financing round of billion, the largest of its kind worldwide. Many analysts estimate a 0-160 billion valuation of Ant Financial — higher than its parent company Alibaba — and list it as a top 10 world internet company.

Another good story he shared was how he came up with the name Alibaba. He said he wanted a name that would be globally acceptable and when he asked Americans what they thought he said it resonated. People assumed?it was a reference to the folk tale, “Ali Baba and the Forty Thieves.”