{"id":15020,"date":"2023-05-28T18:18:15","date_gmt":"2023-05-28T22:18:15","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/chinese-healthcare-energy-firms-enable-cbdc-pay\/"},"modified":"2023-05-28T18:18:17","modified_gmt":"2023-05-28T22:18:17","slug":"chinese-healthcare-energy-firms-enable-cbdc-pay","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=15020","title":{"rendered":"Chinese Healthcare, Energy Firms Enable CBDC Pay"},"content":{"rendered":"
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Chinese healthcare and energy sector providers will allow patients and customers to pay with the digital yuan, in new breakthroughs for the nation\u2019s central bank digital currency (CBDC).<\/p>\n

Per the Chinese media outlet WXRB, both outpatients and hospitalized mental healthcare patients can now use the CBDC to pay for medical treatment.<\/p>\n

Deposits, medication, and hospitalization fees can be paid via the central bank\u2019s digital yuan app, WXRB explained.<\/p>\n

Hospital staff said that digital yuan payments were a \u201csafer and more convenient form of smart payment.\u201d<\/p>\n

They added that digital yuan payments were faster.<\/p>\n

And they said the CBDC helped mental care facilities \u201cimprove the medical experience\u201d for patients.<\/p>\n

Employees explained that the CBDC would allow hospitals to push ahead with \u201cmedical reform\u201d and \u201cdigitize.\u201d<\/p>\n

In 2021, the nation\u2019s first digital yuan hard wallets were piloted at the Shanghai Jiao Tong University School of Medicine\u2019s Tongren Hospital staff canteen.<\/p>\n

CBDC-powered Pay in Chinese Healthcare & Energy Sectors<\/h2>\n

Meanwhile, Jiangsu Province government organs used the CBDC to settle their most recent electricity bill for municipal street lamps.<\/p>\n

The electricity was provided by the government-run State Grid Jiangsu Electric Power Co.<\/p>\n

The energy provider is the local branch of the State Grid Corporation of China.<\/p>\n

It serves over 46 million energy consumers.<\/p>\n

While the digital yuan has found a range of usage scenarios in the world of retail payments and business-to-business payments, inter-government payments have remained uncharted territory.<\/p>\n

The news agency Xinhua reported that the payment was a \u201cnational first\u201d for public institutions.<\/p>\n

Last week, the China Securities Regulatory Commission (CSRC) cleared the CBDC for use in the securities market.<\/p>\n

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The move means Chinese investors will soon be able to use the token to pay for wealth products such as funds.<\/p>\n<\/p><\/div>\n