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Sponge Cities: China’s $300 billion investment plan for green stormwater infrastructure

  • Soak up the rain... China has been on a path to create about 30 “sponge cities” to absorb, store and purify rainwater to deal with both floods and water shortages.
  • Ambitious plans... By 2030, China aims to have 80 percent of urban areas across the country behave like sponges.
  • Real money... The cumulative investment in sponge city projects could reach 1.9 trillion yuan [$300 billion USD] by the end of 2020.
 

TPG puts $1 billion behind $1.9 billion Baidu fintech spinoff

  • Is this impact?… Lack of standardized credit scoring and reporting has limited access to credit and debt for low- and middle-income Chinese. Baidu is a part of the World Bank’s Universal Financial Access 2020 initiative.
  • TPG in Asia… The deal is the Rise Fund’s first China-based investment and the first for Chang Sun, the former Warburg Pincus executive who joined TPG as managing partner in China last year.