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Dai Xianglong
Dai Xianglong, a former governor of the People s Bank of China and former head of the National Social Security Fund, is calling for allocating a proportion of assets confiscated from corrupt officials and a proportion of land transfer fees to replenish pension reserves.
At a pension reserves forum hosted by the Chinese Academy of Social Sciences on December 19, Dai said the amount of assets confiscated from corrupt officials could total billions of yuan.
In recent years, with the increasing number of elderly in China, the sustainability of the pension fund is under threat. In 2019, the balance of social insurance funds nationwide was Rmb585.486 billion, and after fiscal subsidies were excluded, there was a deficit for the seventh consecutive year. ....

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GIC Invests in Sinopec Green Energy Geothermal Development

GIC Invests in Sinopec Green Energy Geothermal Development
Posted on 12/15/2020
Singapore’s GIC Private Limited invested US$ 200 million in a geothermal heating company called Sinopec Green Energy Geothermal Development Co., which is backed by China Petroleum & Chemical Corporation (Sinopec).
Sinopec Green Energy Geothermal Development is considering a public offering. Sinopec Green Energy’s shareholders include Sinopec and its joint-venture partner, Iceland’s Arctic Green Energy Corporation.
Sinopec Green Energy was founded in 2006 as the world’s largest geothermal district heating company. The company provides heating to more than 60 cities and counties in China, according to Arctic Green’s website.
Keywords: China Petrochemical Corporation. ....

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GIC invests $267m in Chinese geothermal energy provider Sinopec Green

The Straits Times
GIC invests $267m in Chinese geothermal energy provider Sinopec Green
GIC has invested S$267 million in a geothermal heating company backed by China s biggest oil refiner.PHOTO: BLOOMBERG
PublishedDec 15, 2020, 10:49 am SGT
https://str.sg/Ja7L
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