Even for those not eligible for such entitlements, the service can help them avoid rental scams and refrain from sudden rate hikes, thanks to Alipay's real-name registration rules and credit checks using big data, he noted.
China has been making remarkable progress in enhancing domestic laws and regulations regarding issues such as entitlement confirmation for data resources, hierarchical data classification and protection, cross-border data transfer and data security review, as well as in balancing the open utilization of data with privacy protection and public security, he said.
However, the majority of developing countries have no entitlement to AMS and can only subsidize up to 10 percent of the product output value, Wang said.
It should be made clear to these young people that home ownership is not an entitlement.
Shares traded under the model will belong to the same class as before, with the same rights and entitlements, and be fully tradable across counters.
The Beijing Municipal Human Resources and Social Security Bureau also said at the conference that companies that fail to pay social security premiums due to the coronavirus outbreak will not have their welfare entitlement compromised.