Aerial picture taken on Sept. 11, 2020 reveals the town view of Shenzhen, in south China’s Guangdong Province. Photograph:Xinhua
The primary spherical of “digital yuan insurance coverage coverage” has been issued in Shenzhen, South China’s Guangdong Province, in accordance with media stories, marking the usage of digital yuan in China’s insurance coverage trade for the primary time.
The Shenzhen subsidiary of Pingan Property Insurance coverage working with the Financial institution of China department in Shenzhen, issued the primary batch of “digital yuan insurance coverage coverage” not too long ago, Shenzhen Particular Zone Day by day reported on Tuesday.
This specific insurance coverage focused medical staff in Nanshan district, which can present medical staff with 300,000 yuan ($4,6221.40) compensation if an insured medical employee died on account of COVID-19, 50,000 yuan allowance if a medical employee is recognized with COVID-19, and 50,000 yuan compensation for unintentional dying, per media stories, including that candidates are eligible for unique preferential allowance if candidates use the digital yuan pockets to make funds.
The issuance of such insurance coverage insurance policies marks the insurance coverage trade’s pilot utility of digital yuan to the web insurance coverage price settlement state of affairs, which has promoted the applying of digital yuan in folks’s every day life, in accordance with Shenzhen Particular Zone Day by day.
The Pingan Property Insurance coverage will additional discover the applying of digital yuan in insurance coverage claims, fee, and different points, and proceed to broaden the usage of digital yuan within the insurance coverage trade to extra utility situations, Shenzhen Particular Zone Day by day reported, citing the individual in control of Pingan’s Shenzhen subsidiary.
In mid-October in 2020, when China commenced public testing of the digital yuan in Shenzhen, the native authorities and China’s central financial institution collectively gave away 50,000 digital purple packets every containing 200 yuan. It was the primary time that the digital foreign money was examined in a public setting.
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