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Combining the application of distributed data storage, encryption algorithms and other advanced technologies, blockchain offers an open and decentralized database of any transaction involving money, goods, property and several others. It provides a high level of security by creating a record whose authenticity could be verified by the whole community.

Condom production is not considered a technology-intensive industry. But Guilin HBM currently holds more than 50 national patents. It plans to increase its investment in research and development from 2 percent of the cost to 5 percent, according to Hu.

Congratulating Lam on her victory in the election as the HKSAR's fifth-term chief executive and ensuing appointment by the State Council, Xi said Lam's victory is well deserved and she meets all the central authority's standards for the role.

Co-released by China Social Responsibility 100 Forum and China Association for Quality Promotion, the report was written and edited by experts from China's leading think tank the Chinese Academy of Social Sciences.

Collateral damage is the likely outcome. Expect to see US consumers pay higher prices for goods as enterprises fail to find appropriate substitute suppliers in a timely fashion. Blame the White House's trade policy when it happens.