Day: June 19, 2022

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ROSEN, TOP RANKED GLOBAL INVESTOR COUNSEL, Encourages Okta, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – OKTA

NEW YORK, June 18, 2022 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Okta, Inc. (NASDAQ: OKTA) between March 5, 2021 and March 22, 2022, both dates inclusive (the “Class Period”), of the important July 19, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Okta securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Okta class action, go to https://rosenlegal.com/submit-form/?case_id=6365 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 19, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Okta had inadequate cybersecurity controls; (2) as a result, Okta’s systems were vulnerable to data breaches; (3) Okta ultimately did experience a data breach caused by a hacking group, which potentially affected hundreds of Okta customers; (4) Okta initially did not disclose and subsequently downplayed the severity of the data breach; (5) all the foregoing, once revealed, was likely to have a material negative impact on Okta’s business, financial condition, and reputation; and (6) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Okta class action, go to https://rosenlegal.com/submit-form/?case_id=6365 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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GLOBALLY RECOGNIZED ROSEN LAW FIRM Encourages Mullen Automotive, Inc. f/k/a Net Element, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action Filed by the Firm – MULN, NETE

NEW YORK, June 18, 2022 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Mullen Automotive, Inc. f/k/a Net Element, Inc. (NASDAQ: MULN, NETE) between June 15, 2020 and April 6, 2022, inclusive (the “Class Period”), of the important July 5, 2022 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased Mullen securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Mullen class action, go to https://rosenlegal.com/submit-form/?case_id=5459 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 5, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Mullen overstates its ability and timeline regarding production; (2) Mullen overstates its deals with business partners, including Qiantu Motors; (3) Mullen overstates its battery technology and capabilities; (4) Mullen overstates its ability to sell its branded products; (5) Net Element did not conduct proper due diligence into Mullen Technologies; (6) the Dragonfly K50 was not (solely) delayed due to the COVID-19 pandemic; and (7) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Mullen class action, go to https://rosenlegal.com/submit-form/?case_id=5459 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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ROSEN, TOP RANKED GLOBAL INVESTOR COUNSEL, Encourages Spero Therapeutics, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – SPRO

NEW YORK, June 18, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Spero Therapeutics, Inc. (NASDAQ: SPRO) between October 28, 2021 and May 2, 2022, both dates inclusive (the “Class Period”), of the important July 25, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Spero Therapeutics securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Spero Therapeutics class action, go to https://rosenlegal.com/submit-form/?case_id=6561 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 25, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the data submitted in support of the New Drug Application (“NDA”) of Tebipenem HBr, an oral carbapenem-class antibiotic to treat complicated urinary tract infections, including pyelonephritis for adults, were insufficient to obtain U.S. Food and Drug Administration (“FDA”) approval; (2) accordingly, it was unlikely that the FDA would approve the Tebipenem HBr NDA in its current form; (3) the foregoing would necessitate a significant workforce reduction and restructuring of Spero Therapeutics’s operations; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Spero Therapeutics class action, go to https://rosenlegal.com/submit-form/?case_id=6561 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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ROSEN, GLOBALLY RECOGNIZED INVESTOR COUNSEL, Encourages LMP Automotive Holdings, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – LMPX

NEW YORK, June 18, 2022 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of LMP Automotive Holdings, Inc. (NASDAQ: LMPX) between June 29, 2021 and May 19, 2022, both dates inclusive (the “Class Period”) of the important July 26, 2022 lead plaintiff deadline.

SO WHAT: If you purchased LMP securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the LMP class action, go to https://rosenlegal.com/submit-form/?case_id=6635 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 26, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) LMP engaged in the improper identification and elimination of intercompany transactions; (2) LMP used incorrect estimates for chargeback reserves for finance and insurance products; (3) LMP had misclassified certain items in its financial statements which impacting balance sheet and income statement financial statement captions; (4) there were material weaknesses in LMP’s internal control over financial reporting; (5) as a result of the foregoing, LMP overstated its revenue; (6) as a result of the foregoing, LMP would restate certain of its previously issued financial statements and results; and (7) as a result of the foregoing, defendants’ positive statements about LMP’S business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the LMP class action, go to https://rosenlegal.com/submit-form/?case_id=6635 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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GLOBALLY RECOGNIZED ROSEN LAW FIRM Encourages IonQ, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – IONQ

NEW YORK, June 18, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of IonQ, Inc. (NYSE: IONQ) between March 30, 2021 and May 2, 2022, both dates inclusive (the “Class Period”), of the important August 1, 2022 lead plaintiff deadline.

SO WHAT: If you purchased IonQ securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the IonQ class action, go to https://rosenlegal.com/submit-form/?case_id=6703 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 1, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) IonQ had not yet developed a 32-qubit quantum computer; (2) IonQ’s 11-qubit quantum computer suffered from significant error rates, rendering it useless; (3) IonQ’s quantum computer is not sufficiently reliable, so it is not accessible despite being available through major cloud providers; (4) a significant portion of IonQ’s revenue was derived from improper round-tripping transactions with related parties; and (5) as a result of the foregoing, defendants’ positive statements about IonQ’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the IonQ class action, go to https://rosenlegal.com/submit-form/?case_id=6703 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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Polling begins in final round of French legislative elections

Voter turnout in the final round of the French legislative election on Sunday recorded a slightly better start with 18.99% ballots cast at noon, according to the data released by the Interior Ministry.

In comparison, the turnout during the second round of the 2017 legislative elections at noon was 17.75%. The overall voter participation is still dismal as polls predict over 50% voters are staying away from the polling stations.

The voting began at 8 a.m. (0600GMT) in the morning and will remain open until 6 p.m. (1600GMT) in most parts of the country, except for big cities where polling stations will close at 8 p.m. (1800GMT).

A total of 1,148 candidates are running for the 577-seat national assembly. Today’s final results will be decisive for President Emmanuel Macron who was reelected in April to continue his government’s second-term agenda. To attain an absolute majority, Macron’s presidential alliance will need to win 289 seats.

His Ensemble (Together) alliance is facing stiff competition from far-left leader Jean-Luc Melenchon’s newly formed left coalition NUPES (New Ecologic and Social People’s Union). In the very tight results of the first round of elections held last Sunday, Macron’s alliance received 25.75%, against the NUPES 25.66%.

In the early morning results, Justine Benin, secretary of state for maritime, lost the elections to Christian Baptiste in the overseas territory of Guadeloupe. Benin got 41.35% of the votes against the winning opponent’s 58.65%.

Source: Anadolu Agency

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Turkish forces ‘neutralize’ 4 PKK terrorists in northern Syria

Turkish forces “neutralized” four YPG/PKK terrorists in northern Syria, the Turkish National Defense Ministry said on Sunday.

The terrorists were plotting an attack in the area of Operation Peace Spring, the ministry said in a statement.

Turkish authorities use the term “neutralized” to imply the terrorists in question surrendered or were killed or captured.

Since 2016, Ankara has launched a trio of successful anti-terror operations across its border in northern Syria to prevent the formation of a terror corridor and enable the peaceful settlement of residents: Euphrates Shield (2016), Olive Branch (2018), and Peace Spring (2019).

In its more than 35-year terror campaign against Türkiye, the PKK – listed as a terrorist organization by Türkiye, the US and EU – has been responsible for the deaths of over 40,000 people, including women, children and infants. The YPG is the PKK’s Syrian offshoot.

Source: Anadolu Agency

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EU foreign ministers to discuss food, energy security in Brussels

Foreign ministers of the EU are expected to discuss the effects of Ukraine’s war on food and energy security in Brussels on June 23-24 before the EU leaders summit.

According to the Council of the EU, the Foreign Affairs Council will be informed about current affairs and ministers will be able to exchange views on recent events and on recent developments in external relations.

The council will then discuss the latest developments in the Horn of Africa, as well as the EU relations with Egypt.

“Lastly the Council will exchange views on Russia’s war of aggression against Ukraine, in the light of the special meeting of the European Council on 30-31 May 2022 and the adoption of a sixth package of economic and individual sanctions against Russia.

“Over an informal lunch EU ministers will have the opportunity to hold a discussion with the Minister of Foreign Affairs of Egypt Sameh Hassan Shoukry,” the statement said.

A senior EU official on Sunday also noted that the meeting’s agenda will include the Ukrainian war in terms of its global implications, particularly food and energy security.

The EU is evaluating various options, including Belarus, for the export of millions of tons of wheat, the official stressed, saying the most ideal option is the Black Sea.

The ministers will discuss the sixth sanctions package, which was accepted at the last summit, and they are not in preparation for a new package, the statement added.

Source: Anadolu Agency

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CGTN: China stresses the need to advance economic globalization amid global crisis

BEIJING, June 18, 2022 /PRNewswire/ — As the world deals with major changes and a pandemic unseen in a century, China has highlighted the importance of advancing globalization even as the economic integration process faces headwinds.

To forge greater synergy for development and close the development gap, the international community needs to pool cooperation resources, platforms and networks of development partnerships, Chinese President Xi Jinping said on Friday in a virtual address to the plenary session of the 25th St. Petersburg International Economic Forum.

“We have full confidence in China’s economic development,” Xi said. “China will continue to promote high-quality development, expand high-standard opening-up with firm resolve, and pursue high-quality Belt and Road cooperation.”

More equitable, sustainable global development

Noting that the international community is keen to achieve more equitable, sustainable and secure development, Xi said it is important to seize opportunities, meet challenges head-on, and work on the implementation of the Global Development Initiative to build a shared future of peace and prosperity.

The Chinese president proposed the Global Development Initiative in his speech to the 76th Session of the United Nations General Assembly via video link in September last year. The plan charts a course for international development.

It is important that all countries strengthen the “soft connectivity” of development policies and international rules and standards, Xi told the attendees at the forum.

Attempts at decoupling, supply disruption, unilateral sanctions and maximum pressure should be rejected, and trade barriers removed so as to keep global industrial and supply chains stable, tackle the worsening food and energy crises, and revive the world economy, he said.

It is important to follow true multilateralism, and respect and support all countries’ pursuit of development paths suited to their national conditions, he said, adding that it is also important to build an open world economy and increase the representation and voice of emerging markets and developing countries in global economic governance.

He also called on countries to pursue innovation-driven development, stressing the importance of unlocking the potential of innovation-driven growth, improving the rules and institutional environment for innovation, and breaking down barriers to the flow of innovation factors.

Xi urged efforts to deepen exchanges and cooperation in innovation, facilitate deeper integration of science and technology into the economy, and make sure the fruits of innovation are shared by all.

China to continue promoting high-quality development

The Chinese president pointed out that the fundamentals of the Chinese economy – strong resiliency, enormous potential and long-term sustainability – remain unchanged.

As one of the first countries to resume work and production, the country became the only major economy to register positive growth in 2020, with its GDP surpassing 114.4 trillion yuan (about $18.1 trillion) in 2021.

A recent report released by the American Chamber of Commerce in South China has indicated that over 70 percent of the assessed companies have reinvestment plans in China for 2022, and 58 percent consider their overall return on investment in China to be higher than in other places.

China stands ready to work with Russia and all other countries to explore development prospects, share growth opportunities, and make new contributions to deepening global development cooperation and building a community with a shared future for mankind, Xi said.

https://news.cgtn.com/news/2022-06-17/Xi-addresses-25th-St-Petersburg-International-Economic-Forum-1aWGtfC4wN2/index.html

Video – https://www.youtube.com/watch?v=lVFV29vcce0