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.
Market close: Pacific Edge hits new high - up 780% in last 12 months
22 Dec, 2020 04:50 AM
4 minutes to read
Pacific Edge rose 9c to a new high of $1.23. Pacific Edge has now climbed 780 per cent in the past 12 months. Photo / Alan Dove Photography
NZ Herald
By: Graham Skellern
The leading stocks, in expansive mood, brought some Christmas cheer to investors and the New Zealand sharemarket with impressive gains. The dividend-yielding big cap shares drove the S&P/NZX 50 Index to 12,842.69, up 234.95 points or 1.86 per cent – its biggest rise in 10 weeks. There were 76 gainers and 62 decliners over the whole market on volume of 56.3 million shares worth $229.17 million.
AlleyWatch
Verily
Verily develops tools and devices to collect and analyze health data to research and manage diseases. Founded by Andrew Conrad, Brian Otis, and Jessica Mega in 2015, Verily is backed by investors that include Silver Lake, Temasek Holdings, Alphabet, and Ontario Teachers’ Pension Plan and is headquartered in San Francisco.
FOUNDED:2015
FOUNDERS:Andrew Conrad, Brian Otis, Jessica Mega
OTPP to invest $275m in South Korean fried chicken chain BHC Group
Seoul, South Korea. Premium
Canadian pension fund Ontario Teachers’ Pension Plan (OTPP) has agreed to invest 300 billion won ($275 million) in South Korean fried chicken restaurant chain BHC Group, valuing the franchise at 1.8 trillion won ($1.6 billion), according to a report.
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OTPP grows Asia team, plans 15 additions in 2021
Like certain other Canadian funds, Ontario Teachers’ Pension Plan is accelerating its regional buildout. It is focusing on adding talent in equities and real assets in Singapore.
Ontario Teachers’ Pension Plan has added several investment staff in Asia this year and plans to increase its regional headcount by a further 50% in 2021, with a focus on its new Singapore office.
The third biggest Canadian retirement fund has grown its personnel by eight to 34 across its two Asia branches – in Hong Kong and Singapore – and intends to expand the Lion City team by another 15 in 2021, a spokesman told