Several state-owned enterprises in SIP, including SIP Holdings, Sungent, Hengtai Holdings and New Era Group, recently signed agreements with China UMS (Suzhou), a branch of Shanghai-headquartered China UnionPay Merchant Services Co Ltd (China UMS) which provides integrated payment services. Under the agreements, the enterprises will join efforts to promote use of digital financial technology in the business facilities run by these state-owned enterprises in SIP.
Specifically, the business facilities, such as office buildings and industrial clusters, will provide opportunities for application of digital RMB in business activities through China UMS (Suzhou)’s comprehensive payment platform. This is expected to create new types of businesses, enrich consumption experiences and improve the business facilities’ operation efficiency.
November 25, 2022