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Prosecutors’ foreign-related work in focus

BEIJING, March 8, 2025 /PRNewswire/ — A news report from chinadaily.com.cn:

The intensified multilateral and bilateral exchanges between China and other countries and regions have led to an increase in foreign-related legal cases in the country, which has made the importance and urgency of strengthening foreign-related procuratorial work more prominent, said Ying Yong, prosecutor-general of the Supreme People’s Procuratorate.

As high-level opening-up further advances, an increasing number of Chinese enterprises and citizens are venturing into the world, and China’s development interests are expanding overseas at a faster pace. As a result, the country has witnessed an increase in the number, types and areas of foreign-related legal cases, and the demand for legal support from the State, enterprises, and citizens is growing, posing new and higher requirements for strengthening foreign-related procuratorial work, Ying, prosecutor-general of the SPP, said in an exclusive interview with China Daily, on the sidelines of the ongoing two sessions.

Also, foreign-related procuratorial work will attach great importance to combating transnational economic crimes, especially money laundering, illegal foreign exchange transactions, counterfeiting and infringement of intellectual property rights, to foster a world-class and market-oriented business environment supported by a sound legal framework, Ying said.

“We will equally protect the legitimate rights and interests of various domestic and foreign business entities in accordance with the law,” Ying said. “We will uphold equal protection of various types of economic entities involving both domestic and foreign capital in line with the law, and hold those who infringe upon the property rights and legitimate interests of various economic entities equally accountable.”

He said foreign-related procuratorial work is an important duty of procuratorial organs, a vital part of prosecution work, and an important aspect of the country’s foreign-related rule of law. Since the 18th National Congress of the Communist Party of China in 2012, the CPC Central Committee has attached great importance to foreign-related rule of law and made a series of major decisions and plans.

On Nov 14, the national conference on foreign-related procuratorial work was held in Shanghai, marking the first meeting convened by the SPP specially dedicated to foreign-related procuratorial work.

In December, the SPP also published a guideline on strengthening foreign-related procuratorial work, based on broad research and investigation and extensive consultations, to effectively enhance the quality and efficiency of related work.

“Foreign-related procuratorial work must effectively shoulder a heavier responsibility in serving high-quality development and opening-up, more forcefully safeguarding the country’s development interests, as well as protecting the legitimate rights and interests of Chinese enterprises and citizens,” Ying said.

Meanwhile, foreign-related procuratorial work also aims to lawfully safeguard the legitimate rights and interests of various entities such as Chinese citizens and enterprises overseas.

Prosecutorial authorities will coordinate with relevant departments to help enterprises solve legal issues abroad, and promote the better use of legal tools by overseas enterprises to safeguard their legitimate rights and interests, Ying said.

“By strengthening coordination among different departments and enforcing international judicial cooperation, we will jointly build a strong legal support chain to protect China’s overseas interests, and protect the legitimate rights and interests and production and living order of various entities such as Chinese citizens and enterprises overseas,” he said.

As noted by Ying, procuratorial work will also better serve high-quality development of the Belt and Road Initiative by strengthening communication, exchanges and information sharing with procuratorial organs in countries taking part in the BRI. Efforts will also be made to continuously implement procuratorial policies that support and guarantee the development of free-trade zones and the Hainan Free Trade Port.

Furthermore, procuratorial authorities will further deepen international judicial exchanges and cooperation as judicial exchanges and cooperation are a crucial part of major-country diplomacy with Chinese characteristics, Ying said.

“We have actively promoted high-level mutual visits among procuratorial authorities to expand the circle of friends,” Ying said.

On Oct 28, Ying called for procuratorial authorities in China and the Association of Southeast Asian Nations to increase exchanges and cooperation, during his speech delivered at the opening of the 14th China-ASEAN Prosecutors General Conference held in Singapore.

Also, meetings and exchanges with prosecutors-general and chairmen of judicial committees of more than 20 countries have been held in 2024. So far, the SPP has signed bilateral cooperation agreements with law enforcement and judicial agencies in 100 countries and regions worldwide.

Ying said procuratorial authorities will enhance practical cooperation with foreign prosecutorial authorities in combating transnational crimes and further intensify efforts to combat cross-border telecommunications fraud crimes.

“We will vigorously crack down on violent terrorist forces, ethnic separatist forces and religious extremist forces, and jointly punish international drug trafficking, cross-border gambling, online terrorist activities, telecommunications fraud, cross-border human trafficking, illegal border crossings and cross-border illegal sand mining,” he said.

In April last year, the SPP, together with six other departments, jointly formulated the Provisions on Several Issues Concerning the Implementation of the International Criminal Judicial Assistance Law of the People’s Republic of China, further standardizing procedures for international criminal judicial assistance. After its implementation, 293 criminal judicial assistance cases were handled last year.

He added that it’s necessary to actively participate in the formulation of foreign-related laws and regulations, as well as international rules.

“We will actively join discussions on important issues in international organizations and institutions, engage in the formulation of international rules in areas such as ecological environment protection, financial regulation, cyber governance, intellectual property protection, international economic and trade, as well as negotiations on criminal judicial assistance, extradition, and the transfer of sentenced persons treaties,” Ying said.

In 2024, the SPP participated in negotiations and consultations on the United Nations Convention against Cybercrime and three criminal judicial assistance treaties.

Court Rules Voting Rights Restriction on Young Poong as Unlawful

Most Resolutions from Korea Zinc’s Extraordinary Shareholders’ Meeting Suspended… A Big Win for Young Poong and MBK Partners

A Green Light for Securing Control Over Korea Zinc

SEOUL, South Korea, March 8, 2025 /PRNewswire/ — The court has ruled that restricting Young Poong’s voting rights at Korea Zinc’s extraordinary shareholders’ meeting on January 23 was unlawful, suspending the effectiveness of most resolutions passed, including the resolution to impose a cap on the number of directors.

Furthermore, as Young Poong’s voting rights restriction was deemed illegal, the duties of the seven Korea Zinc-nominated directors, who were appointed through a process marred by significant procedural defects, have also been suspended.

On March 7, the Seoul Central District Court’s Civil Division 50 granted Young Poong and MBK Partners’ injunction request to suspend the resolutions of Korea Zinc’s extraordinary shareholders’ meeting, ruling that “Under Article 369, Paragraph 3 of the Commercial Act, restricting Young Poong’s voting rights in Korea Zinc is unlawful.” The court consequently suspended the effectiveness of the resolutions on:

Article 1-2: Establishing a cap on the number of directors
Article 1-4: Stock split
Article 1-6: Appointment of the board chair from among outside directors
Article 1-7: Amendment of the dividend record date
Article 1-8: Introduction of quarterly dividends

Additionally, the seven directors nominated by Korea Zinc have been prohibited from exercising their duties as outside directors.

With this ruling, while the resolution to amend the articles of incorporation to introduce cumulative voting (Article 1-1) remains effective, the cap on the number of directors (set at 19) has been nullified, and the seven Korea Zinc-nominated directors can no longer perform their duties.

This decision paves the way for Young Poong and MBK Partners, the largest shareholders, to secure control over Korea Zinc.

Young Poong and MBK Partners welcomed the court’s decision to grant the injunction.

At Korea Zinc’s annual general meeting, expected in late March, a new board of directors will be elected through cumulative voting. Young Poong and MBK Partners have already submitted a shareholder proposal nominating 17 director candidates.

A representative from Young Poong and MBK Partners stated, “We will make every effort to restore corporate governance, shareholder value, and corporate value at Korea Zinc through a fair and transparent annual general meeting.”

Proteus powered Hindalco digital manufacturing platform wins this year’s national manufacturing leadership award

SINGAPORE, March 8, 2025 /PRNewswire/ — #dltledgers collaboration with its client, Hindalco Industries Limited (Hindalco), an Aditya Birla Group company is one of mutual success. A case study where its client, Hindalco has been honored with the 2025 Leadership Award for Manufacturing Excellence at the Dataquest Digital Leadership Conclave. This recognition highlights Hindalco’s pioneering efforts in contract manufacturing digitalization, made possible through its collaboration with #dltledgers. By leveraging advanced digital transformation, Hindalco has redefined operational efficiency, visibility, and sustainability in contract manufacturing – an essential pillar of India’s manufacturing growth.

#dltledgers is a global multi-party collaboration platform offering state of the art solutions in Multi-tier supply chain, Sustainability, Compliance and Digital finance. The enterprise offers clarity through the seamless virtualization of invisible data points across the value chain. #dltledgers flagship product, Proteus, enhances collaboration and authenticity, leveraging advanced virtualization technologies in Gen AI, Blockchain and Web3 frameworks to streamline data sharing, improve visibility and ensure global compliance.

As Government of India’s, “Made in India” cements its position as a global manufacturing powerhouse, with a projected 4.8% compound annual growth rate (CAGR) in the sector, leading enterprises like Hindalco are building global competitive advantage with cutting-edge digital transformation to enhance operational efficiency and ensure end-to-end value chain visibilityContract manufacturing and tolling visibility is now a strategic imperative, unlocking cost leadership, agility, and compliance in an increasingly competitive global landscape.

Pioneering Contract Manufacturing Visibility with Multi-Party Collaboration

#dltledgers initiative assisted its client, Hindalco’s transformation into a multi-party shared data collaboration, which has redefined contract manufacturing operations with inclusion of its ecosystem. Through this initiative, Hindalco has gained immediate cost advantage, real-time visibility across its value chain, seamless collaboration across multiple stakeholders external to the company, and automated compliance management, ensuring optimal efficiency, transparency and sustainability in its supply chain.

This breakthrough was made possible through Proteus, the cutting-edge blockchain-enabled data exchange platform that drives multi-party transactional efficiency with ease. By leveraging Proteus, the client has established seamless supplier collaboration, real-time production tracking, and automated compliance management, ensuring unparalleled transparency and efficiency in contract manufacturing. By eliminating inefficiencies, digitizing contract management, and integrating sustainability tracking into supply chain processes, few of the immediate benefits are 12-15% reduction in operational costs, 50% decrease in manual workflows, enhanced compliance with regulatory and environmental standards, real-time visibility across the supply chain, improved scrap and unprocessed material management in sub-contracting, increased efficiency in packaging material usage, optimized delivery management for reduced lead times and costs.

As a testament to the successful collaboration with #dltledgers, Poorav Sheth, CDIO of Hindalco Industries said, “This award is how collaboration and innovation can drive agility in solving complex business challenges. I am truly proud of the ownership demonstrated by our management and manufacturing teams at Hindalco in embracing these series of transformations for a more collaborated ecosystem. The Proteus platform from #dltledgers has enabled rapid deployment of multi-party collaboration capabilities, and we are excited about the opportunities it unlocks for our ecosystem.”

Championing Sustainability & Green Aluminium Initiatives

Hindalco’s remit goes beyond operational efficiency—it is setting new industry 4.0 benchmarks for green alumina manufacturing. By embedding sustainability metrics into its contract manufacturing processes, Hindalco is actively contributing to India’s green aluminium initiative and advancing circular economy goals and contributing to climate change initiatives globally.

The ability to monitor and manage compliance in real-time ensures adherence to environmental regulations, reduces carbon footprint, and supports waste minimization efforts. With deep tier visibility, multi-tier supply chain reach via collaboration, Hindalco ensures that every partner in the contract manufacturing ecosystem aligns with stringent sustainability and compliance standards. Here, Proteus helps in a democratised approach towards shared data collaboration – it works with its cutting edge hyperconnect technology that supports a distributed software architecture and decentralises the services not for the principal alone, But, each entity in its value chain.

A Defining Moment for India’s Manufacturing Future

The award acknowledges Hindalco’s digital leadership and its industry leadership; key drivers of this transformation, reinforcing their role in shaping the future of India’s manufacturing ecosystem. Multi-party transactional efficiency is no longer an aspiration but a necessity, enabling organizations to navigate complex supply chains with greater agility.

Samir Neji, Chief Product Officer of dltledgers quips, “Our client, Hindalco’s success demonstrates the transformative impact of multi-party multi-tier collaboration in modern manufacturing. With Proteus, they have the ability to service across the value chain, its distributed SDK across the value chain, collaborating every inch of its value chain is a powerful method in democratising the software and making it available. These are cutting edge web 3.0 technology, a competitive advantage for cost leadership. These value chain collaboration showcases how enterprises can leverage ecosystem collaboration technology to streamline operations and build more resilient, compliant, and future-ready ecosystem.”

Proteus demonstrates how multi-party collaboration and digital transformation can drive cost leadership, compliance, sustainability, and competitive advantage. “As companies worldwide navigate increasingly complex supply chains, bilateral regulatory tariff and related challenges, Hindalco’s achievement serves as a model for enterprises seeking to future-proof their operations and embrace a technology-driven manufacturing ecosystem and we feel elated to have played our role”, Samir Neji, #dltledgers added .

About Hindalco Industries Limited

Hindalco Industries Limited, the metals flagship company of the Aditya Birla Group, is a global leader in aluminium and copper manufacturing. Committed to innovation, sustainability, and digital excellence, Hindalco is driving the next era of responsible manufacturing, delivering cutting-edge solutions that optimize performance across industries.

Education is a Pathway Toward Human Rights and Empowerment for Women and Girls Everywhere

International Women’s Day Statement by Education Cannot Wait’s Yasmine Sherif

NEW YORK, March 8, 2025 /PRNewswire/ — On International Women’s Day, Education Cannot Wait joins our partners worldwide in calling for human rights and empowerment for women and girls everywhere.

Education is lifesaving for girls and women everywhere.
Education is lifesaving for girls and women everywhere.

Empowerment starts with an education. Worldwide, women still account for almost two-thirds of all adults unable to read, according to UNESCO. The challenge becomes even more severe on the frontlines of armed conflict, climate change and forced displacement, where approximately 234 million children in crisis contexts (half of whom are girls) require our urgent support in accessing quality education.

In Afghanistan an entire generation of girls is being systematically denied their right to an education, and thus deliberately disempowered. About 2.5 million Afghan girls are out of school today according to UNESCO. That’s 2.5 million people denied their right to develop and their capacity to help rebuild a nation that has suffered far too long.

This week, a new feature film titled ‘Rule Breakers’ highlights the stories of hope, courage and resilience of the Afghan Girls Robotics Team. In real life, ECW’s Global Champion Somaya Faruqi led that team to victory in competitions around the world. Today, she has joined a long list of leading global advocates to call on leaders to listen to #AfghanGirlsVoices and call for a return to equality and equal access to quality education for all the girls and women of Afghanistan.

Education is also fundamental in claiming and protecting human rights. Today, we commemorate the 30th anniversary of the Beijing Declaration and Platform for Action, a defining commitment to ensuring human rights for women everywhere.

“Investing in formal and non-formal education and training for girls and women, with its exceptionally high social and economic return, has proved to be one of the best means of achieving sustainable development and economic growth that is both sustained and sustainable.” ~ Beijing Declaration and Platform for Action.

Education is the most important investment of all: a quality education for every girl means empowerment of every woman. It is not a short-cut, nor an unattainable dream. Education is the path.

 

Shaping The Future: Celebrating Women In Technology This International Women’s Day


SINGAPORE – Media OutReach Newswire – 8 March 2025 – This International Women’s Day, with its powerful theme of “For ALL women and girls: Rights. Equality. Empowerment,” it’s important to reflect on the trailblazing women who’ve shaped our world today. One of those women is Marie Van Brittan Brown, a name that should be synonymous with innovation in home security.

In 1966, Marie, a nurse working long shifts in a neighbourhood plagued by slow police response times, co-invented the world’s first home security system. Her groundbreaking design, which included a closed-circuit television system, a two-way communication feature, and even a remote-controlled door lock revolutionised the way we think about safety at home, becoming the blueprint for modern smart security.

At Arlo, we recognise the significant impact of Marie Van Brittan Brown’s work, and it continues to inspire our mission to provide personalised, smart and easy to use solutions. Our relentless commitment to home security is driven by industry first innovations with our advanced AI and Computer Vision capabilities, including person recognition with Arlo Secure Plus. Furthering Marie’s ambition for personal safety, the Arlo Secure Person Recognition feature allows customers to know exactly who is on their property, bringing peace of mind and security.

This International Women’s Day, we celebrate Marie’s incredible impact and recognise the role technology plays in empowering women. Her invention wasn’t just a step forward for home security—it was a step toward equality, giving everyone the right to feel safe and secure. We believe in protecting your everything – exactly as Marie set out to do. Thanks to her ingenuity, we can now deliver cutting edge technology that keeps families, homes, and businesses secure every day.

Happy International Women’s Day from Arlo!

Hashtag: #ArloTechnologies #womenintechnology

The issuer is solely responsible for the content of this announcement.

About Arlo Technologies, Inc.

Arlo is an award-winning, industry leader that is transforming the ways in which people can protect everything that matters to them with advanced home, business, and personal security solutions. Arlo’s deep expertise in AI- and CV-powered analytics, cloud services, user experience and product design, and innovative wireless and RF connectivity enables the delivery of a seamless, smart security experience for Arlo users that is easy to set up and interact with every day. Arlo’s cloud-based platform provides users with visibility, insight, and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a cellular connection. Arlo has recently launched several categories of award-winning connected devices, software, and services. These include wire-free, smart Wi-Fi and LTE-enabled security cameras, video doorbells, floodlights, security system, and Arlo’s subscription services: Arlo Secure and Arlo Safe.

With a mission to bring users peace of mind, Arlo is as passionate about protecting user privacy as it is about safeguarding homes and families. Arlo is committed to implementing industry standards for data protection designed to keep users’ personal information private and in their control. Arlo provides enhanced controls for user data, supports privacy legislation, keeps user data safely secure, and puts security at the forefront of company culture.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words “anticipate,” “expect,” “believe,” “will,” “may,” “should,” “estimate,” “project,” “outlook,” “forecast” or other similar words are used to identify such forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements represent Arlo’s expectations or beliefs concerning future events based on information available at the time such statements were made and include statements regarding the development and performance of Arlo’s services and products; and the impact of the strategic partnership with Origin, including the impact on Arlo’s results of operations or technology and capabilities. These statements are based on management’s current expectations and are subject to certain risks and uncertainties, including the following: any failure to successfully integrate Origin’s AI SensingTM technology, including TruShieldTM and Allos into Arlo’s services and products; the period or scope of exclusivity may be shorter or more limited, respectively, than anticipated; consumers may choose not to utilise payment plans or to adopt the Arlo’s new product offerings, or may adopt competing products; and product performance may be adversely affected by real-world operating conditions. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Further information on potential risk factors that could affect Arlo and its business are detailed in its periodic filings with the Securities and Exchange Commission, including, but not limited to, those risk factors described in its most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q and subsequent filings with the Securities and Exchange Commission. Given these circumstances, you should not place undue reliance on these forward-looking statements. Arlo undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Octa broker receives the ‘Best use of AI in fintech’ award


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 8 March 2025 – OctaTrader, Octa broker’s proprietary trading platform, was recently awarded for the ‘Best Use of AI in Fintech 2025’ by Global Business Magazine. This award gives due credit to OctaTrader’s diverse suite of AI-powered features, including one of its most powerful tools, the recently released AI Pattern Recognition.

Octa

The Global Business Magazine award
Octa, a global CFD broker since 2011, has recently received a prestigious industry award from Global Business Magazine, ‘Best Use of AI in Fintech 2025’. This is another milestone achievement for OctaTrader, Octa’s proprietary trading platform that incorporates AI-powered tools to make trading more accessible.

OctaTrader offers a seamless cross-device trading experience enhanced with powerful personalisation capabilities—and extensive use of AI. The platform currently incorporates two proprietary AI-based tools:

  • AI Pattern Recognition, a recently released feature that automatically finds and displays the most relevant market pattern, allowing traders to save a lot of time on technical analysis.
  • OctaVision, an indispensable self-evaluation tool that helps traders of any experience level finetune their strategies based on analysis of their historical outcomes.

OctaVision
With OctaVision, traders can analyse an individual closed order or a whole trading session in bulk. While the tool uses a built-in AI engine to create data-driven unbiased recommendations, it is also anchored in extensive market knowledge of Octa’s expert traders who oversaw the development process, double-checking each outcome against practical experience.

As a detailed and personalised source of trading feedback, OctaVision is indispensable as an objective, impersonal mentor who helps you hone your skills, strategies, and practices step by step. OctaVision uses plain language to highlight strengths and weaknesses in your decision-making approach. This AI-based analytical tool focuses on improving your trading results, supporting its conclusions with relevant data from your historical trades while providing personalised, actionable advice.

Pattern Recognition
As its name suggests, OctaTrader’s AI Pattern Recognition tool scans a vast database of historical data to find the most relevant technical analysis patterns for a chosen instrument and time frame. To do that, it first automatically analyses current price dynamics and then uses machine learning algorithms to highlight actionable trends.

Embedded in the Octa app, AI Pattern Recognition currently covers all the tradable assets available on the OctaTrader platform and is easily customisable to fit the client’s trading style.

According to the Octa broker, the AI Pattern Search tool will be further improved with new machine learning models for handling support and resistance levels and candlestick patterns. These incoming updates will extend the tool’s scope and add more flexibility to OctaTrader clients’ routines.

About Global Business Magazine
Global Business Magazine has established itself as a vital resource for business professionals. It highlights organisations that set benchmarks for success and presents awards to companies that excel in their fields and use cutting-edge technology to transform traditional practices.

This award contributed to Octa’s substantial collection of industry accolades, which already amounts to more than 100—and still counting.

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Disclaimer: Trading involves risks and may not be suitable for all investors. Use your expertise wisely and evaluate all associated risks before making an investment decision.

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 5 March 2025 -Hashtag: #Octa

The issuer is solely responsible for the content of this announcement.

Octa

is an international CFD broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

In Southeast Asia, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.

Global Times: Up Close: President Xi takes part in deliberation of Jiangsu delegation

BEIJING, March 8, 2025 /PRNewswire/ — Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, took part in a deliberation with fellow lawmakers from Jiangsu during the third session of the 14th National People’s Congress (NPC) in Beijing, on March 5, 2025. This marks the third consecutive year that Xi has taken part in a deliberation of this delegation since 2023.

‘Social work must be strengthened’

The lively exchanges in the deliberation vividly reflect the significance of social governance in the context of China’s efforts to modernize its national governance system.

“How many people live in your community?” Xi asked the lawmakers during the deliberation with the Jiangsu delegation.

“There are 7,266 residents, making up five residential communities. When I first started working in this community, there were only some 3,000 people. Now the number has doubled,” said Li Xiaona, an NPC deputy who has worked in the Hailian community of Xinhai Street in Lianyungang city for 12 years, when talking about her grassroots work.

After hearing these figures, Xi said with emotions: “In the past, the neighborhood committees were generally quite small in my memory. The community’s Party secretary was like a ‘premier of a small alley,’ managing a lot of things, which was not easy.”

The community is the fundamental unit of urban governance in China, weaving together countless threads of daily life and connecting thousands of households. Within this intricate web pulses the lifeblood of the nation, revealing both the immense scale and profound weight of governance in a country. Xi has always cared about the affairs within the community.  

During the deliberation, Xi expressed concerns regarding “caring for the elderly and children.”

In terms of the elderly care, it is common to see senior canteens in China, but overly relying on welfare models risks its sustainability. Solutions must be locally tailored and self-sustaining. Meanwhile, home services for the elderly should also be enhanced with the expansion of volunteer networks and elderly healthcare occupations. 

In terms of childcare, current daycare services face problems of imbalances, which should be adjusted align with local demographics and service quality. The children deserve safe, healthy and nurturing environments, which requires professional caregivers and stronger oversight frameworks.

Xi also expressed concerns about the groups of new forms of employment.

A recent survey on the status of the national workforce revealed that 84 million people are now employed in new forms of work across China, accounting for 21 percent of all employed citizens. 

The 20th CPC National Congress has made improving the social governance system a priority. In 2023, the Society Work Department of the CPC Central Committee was established, with local branches following nationwide. The central conference on social work was held for the first time in Beijing in 2024. These initiatives embody the governing philosophy that “nothing is too small for a civil servant to do if it delivers concrete benefits to our people.” 

“Social work must be strengthened,” Xi emphasized, addressing the matter with clarity: As the Chinese social fabric grows more complex, emerging forms of work like deliveryman, ride-hailing drivers, and e-commerce practitioners demand tailored management services. The country must keep up with the management services and fill the gap. 

Sound grassroots governance fortifies national governance. In the deliberation, Xi urged earnestly to make more practical efforts to strengthen foundational and inclusive construction of people’s livelihood, and to address the urgent and pressing concerns of the public. Additionally, the social security system and the accessibility and balanced distribution of basic public services should be further improved. “Putting the people first” has permeated every word of his address.

‘Always maintain the role of a trendsetter’

You were on the TV news today, weren’t you?” Xi asked Zhang Junjie, an NPC deputy and a cardiologist in Nanjing First Hospital, who was seated across from him. That morning, Zhang had shared stories about advancements in medical technology with the media in the NPC deputies’ meetings with the press.

Zhang used the metaphor of “touching the heart” to share an inspiring tale of triumph. He recounted how his team overcame foreign monopolies to develop a domestically produced mitral valve clip. Utilizing minimally invasive techniques, they successfully repaired the mitral valve – the heart’s “back door” – of an 88-year-old patient surnamed Liu at the time, all while his heart continued to beat. Now Liu, 92, enjoys a fulfilling life in his later years. 

“Every year, my team performs over 300 minimally invasive heart valve surgeries across the country. Liu’s story is merely a snapshot of our daily work,” he said.

“Twenty years ago, I went abroad for further studies. Now, we have emerged as a leader in various medical fields,” he recalled, emphasizing that the realm of medical research knows no boundaries. 

“What you said reminds me of the difficulties we faced in the 1990s when performing heart stent surgeries,” Xi talked to him.

Now, the domestic production rate of cardiovascular materials is quite high, isn’t it? the president asked.

Zhang responded proudly, “Our domestically produced stents have reached global markets. Over the years, I have traveled to Belt and Road Initiative partner countries, treating patients and saving lives with Chinese technologies and products. 

After hearing that, Xi said that “we have made significant strides in this area, and we must continue to forge ahead.” 

The transformation of an industry reflects the broader trends of development. Today’s China is a nation surging with waves of innovation and vibrant growth. 

Jiangsu, an economic powerhouse, should take the lead.” This was the earnest instruction from Xi. 

The president elaborated on four key areas for “taking the lead,” with the foremost being “taking the lead in integrating technological innovation with industrial innovation.” 

Innovation is the primary driving force for development.

When Xu Guanghui, an NPC deputy and director of the Jiangsu Provincial Department of Science and Technology, made a report, Xi asked “What is the proportion of innovation investment in Jiangsu’s fiscal expenditures?” 

The answer given by Xu was impressive. Compared with 2022, Jiangsu’s fiscal investment in technological innovation increased by 16.2 percent in 2024. 

Technological innovation and industrial innovation constitute the fundamental pathways for developing new quality productive forces. 

Following last year’s two sessions, Xi once again mentioned new quality productive forces during this deliberation, noting that China should promote the development of new quality productive forces so that the country could always remain a role of trendsetter in modern economic wave.

Economic powerhouses should shoulder greater responsibilities in implementing the country’s major development strategies, Xi stressed.

https://www.globaltimes.cn/page/202503/1329706.shtml

BEST Inc. Announces Completion of Going Private Transaction

HANGZHOU, China, March 8, 2025 /PRNewswire/ — BEST Inc. (NYSE: BEST) (“BEST” or the “Company”), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced the completion of its merger (the “Merger”) with Phoenix Global Partners, an exempted company with limited liability incorporated under the laws of the Cayman Islands (“Merger Sub”), pursuant to the previously announced agreement and plan of merger, dated as of June 19, 2024 (the “Merger Agreement”), among the Company, BEST Global Partners, an exempted company with limited liability incorporated under the laws of the Cayman Islands (“Parent”) and Merger Sub. As a result of the Merger, the Company has become a wholly owned subsidiary of Parent and has ceased to be a publicly traded company.

Pursuant to the terms of the Merger Agreement, which was approved by the Company’s shareholders at an extraordinary general meeting held on February 18, 2025, at the effective time of the Merger (the “Effective Time”), each American Depository Share of the Company (each, an “ADS”), representing twenty (20) class A ordinary shares of the Company, par value US$0.01 each (the “Class A Shares,” together with class B ordinary shares and class C ordinary shares of the Company, collectively, the “Shares”), issued and outstanding immediately prior to the Effective Time, other than ADSs representing the Excluded Shares (as defined in the Merger Agreement), together with the Class A Shares represented by such ADSs, has been cancelled and ceased to exist in exchange for the right to receive US$2.88 in cash per ADS without interest, and each Share issued and outstanding immediately prior to the Effective Time, other than the Excluded Shares, the Dissenting Shares (as defined in the Merger Agreement) and Class A Shares represented by ADSs, has been cancelled and ceased to exist in exchange for the right to receive US$0.144 in cash per Share without interest. Pursuant to the terms of the Merger Agreement, share-based incentives held by current or former officers, directors, employees and consultants of the Company have also been cancelled, cashed out or rolled over into equity incentives of Parent, as applicable. Pursuant to the terms of the Merger Agreement, the Excluded Shares have been cancelled without payment of any consideration from the Company therefor and the Dissenting Shares have been cancelled and will entitle the former holders thereof to receive the fair value thereon determined in accordance with the provisions of Section 238 of the Companies Act (As Revised) of the Cayman Islands.

Registered shareholders immediately prior to the Effective Time who are entitled to the Merger Consideration (as defined in the Merger Agreement) will receive a letter of transmittal and instructions on how to surrender their Shares in exchange for the Merger Consideration and should wait to receive the letter of transmittal before surrendering their Shares. Payment of the Merger Consideration will be made to holders of Shares (other than Class A Shares represented by ADSs) in respect of each such Share held thereby upon surrender of applicable Shares and delivery of the letter of transmittal and any other documents required by such letter of transmittal to be delivered in connection therewith. Payment of the Merger Consideration (after deduction of the fees, charges, deductions and expenses provided for under the Deposit Agreement, dated September 22, 2017, between the Company, the ADS depositary and the holders and beneficial owners of ADSs issued thereunder) will be made to holders of ADSs in respect of each ADS held thereby as soon as practicable after Citibank, N.A., the ADS depositary, receives the aggregate Merger Consideration payable to holders of ADSs from the paying agent.

The Company also announced today that it has requested that trading of its ADSs on the New York Stock Exchange (the “NYSE”) be suspended on March 10, 2025 (New York time). The Company has requested that NYSE file a Form 25 with the Securities and Exchange Commission (the “SEC”) notifying the SEC of the delisting of the ADSs on NYSE and the deregistration of the Company’s registered securities. The deregistration will become effective 90 days after the filing of the Form 25 or such shorter period as may be determined by the SEC. The Company intends to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, by filing a Form 15 with the SEC in approximately ten days following the filing of the Form 25. The Company’s obligations to file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will cease once the deregistration becomes effective.

Kroll, LLC (operating through its Duff & Phelps Opinions Practice) is serving as the financial advisor to the Special Committee. Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal counsel to the Special Committee. Maples and Calder (Hong Kong) LLP is serving as Cayman Islands legal counsel to the Company.

Fangda Partners is serving as U.S. legal counsel to the Consortium. Walkers (Hong Kong) is serving as Cayman Islands legal counsel to the Consortium. Kirkland & Ellis is serving as U.S. legal counsel to Alibaba Investment Limited and Cainiao Smart Logistics Investment Limited.

About BEST

BEST Inc. (NYSE: BEST) is a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia. Through its proprietary technology platform and extensive networks, BEST offers a comprehensive set of logistics and value-add services, including freight delivery, supply chain management and global logistics services. BEST’s mission is to empower business and enrich life by leveraging technology and business model innovation to create a smarter, more efficient supply chain. For more information, please visit: http://www.best-inc.com/en/.

Safe Harbor Statement

This press release contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this announcement and in the attachments is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.