The Ministry of Finance in China is to start transferring shares in State-Owned-Enterprises to pension fund for social security. According to Caixin, [A (China) Ministry of Finance document said that the move "demonstrates that state-owned companies are owned by all people and should benefit all people."] China Daily adds that “the move will ensure the sustainable development of the country’s basic pension insurance system. ” It can also improve the efficiency of SOEs. Currently, there are more than 200 million people aged above 60 in China. And there is a shortfall in pension fund, especially in poor provinces and bankrupted state companies.. [Taxes as solutions in Singapore] While in Singapore, the People’s Action Party government is going to increase taxes. Here are some the headlines: Singapore to raise taxes as govt spending increases No contradiction between PM Lee and DPM Tharman on taxes: MOF As Singapore’s spending needs grow, raising taxes...
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