Beijing Issues Its First Blockchain-driven Electronic Invoices, All Car Parks Integrated into E-Fapiao System

The Chinese capital has just issued its first blockchain-based electronic fapiao (invoice).

The Beijing municipal tax department announced on 4 March that the city’s first blockchain-based e-fapiao was issued by the carpark of Hanwei International Square, situated in the Beijing Fengtai Science Park.

According to the department all of Beijing’s car parks have been integrated into the municipal tax department’s blockchain-driven e-fapiao system.

In future all Beijing car parks will be capable of issuing online blockchain-based fapiao, with customers no longer required to retain paper copies of the documents.

In June 2018 Guangzhou mu­nic­i­pal­i­ty’s tax de­part­ment launched Chi­na’s first blockchain-based tax in­voic­ing sys­tem – the Shui Lian (税链) or “Tax Link” sys­tem. 

The goal of the sys­tem was to en­sure the au­then­tic­ity of digi­tised tax in­voices, also re­ferred to as fapiao in Chi­nese, by main­tain­ing a com­pre­hen­sive log of data on both is­suers and re­cip­i­ents.

Related stories

Shen­zhen Metro Sys­tem Teams up with Ten­cent to Launch Blockchain-based Elec­tronic In­voices

China Mer­chants Bank Ex­pands Use of Blockchain E-In­voices to Funds and Con­sumer Fi­nance

China Mer­chants Bank Is­sues Guangzhou Area’s First Fi­nan­cial Sec­tor Blockchain-based Elec­tronic In­voice

Ten­cent and Shen­zhen Tax Bu­reau En­trusted with Draft­ing of In­ter­na­tional Blockchain In­voic­ing Stan­dards