Tech China Post #69

China will move its paper-based social security system covering more than 1.2B people to digital form. This is a significant development in the digital identity space. Chinese government has been exploring blockchain to digitize information and setting the standard where social security identification is used for all public and most private services offered to Chinese citizens. (link)

Softbank and Google’s late-stage fund CapitalG are investing $1.9B in China’s truck-hailing firm, Manbang.(link)

Chinese government is launching beta test of state-wide patient monitoring system including biometrics for outpatient services. The beta test is a joint effort between British firm Medopad and its Chinese partners.(link)

China will further reduce taxes for small and emerging technology firms to support and encourage innovation and new economy. Under the new tax incentive program, small businesses with less than 1M RMB taxable income would not need to pay taxes compared to a previous 500K RMB threshold. For emerging technology firms, there are additional tax incentives.(link)