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And that record is likely to be broken on this Cyber Monday — the Monday after Thanksgiving — with spending estimated to be between .8 billion and .7 billion, around 35 percent more than last year.

Analysts said that Xiaomi's revenue rose as its smartphone business benefited from the restrictions imposed by the United States government on Huawei Technologies Co Ltd. But with Huawei resuming the production of 4G smartphones, according to reports, Xiaomi is expected to face stiffer competition in overseas markets next year.

Analysts at Bank of America believe global oil demand will fall by 12 million barrels a day in the second quarter ?– the sharpest decline on record.

Analysts say Madeja's leadership and broad knowledge are proven, but he may have to warm up to learning about new trends in China, including better reception of new energy vehicles, younger customers and a higher ratio of female car owners than in the West.

Analysts said the restrictive policies could weigh on property development investment, dampen construction activity, and add pressure on the economy.