July 3, 2023
BEIJING – The Ministry of Human Resources and Social Security is taking explorative steps in including the payment of China’s digital yuan into the use of social security cards to build up an integrated and smarter system of social security management.
The social security card is usually used as a certificate for individuals to deal with their social security business such as drawing pensions, unemployment registration and settlement of medical insurance.
As told by a banking industry insider with ThePaper, a news outlet headquartered in Shanghai, adding the use of payment of China’s digital yuan to the social security card can develop more use of the card in addition to the social security-related sectors, which can bring more life convenience to social members.
Also, the authorities can perform a digitalized and smarter governance relying on the use of China’s digital yuan, as reported by ThePaper.
The social security ministry recently released a campaign, with its aim to digitalize the nation’s social security management by 2027.