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E-Invoicing in China
China's Golden Tax System requires electronic VAT invoices (fapiao). Fully digital invoices (quandian fapiao) rolled out nationwide.
B2G (Business to Government)
Mandatory
Effective: December 1, 2021
Electronic invoicing requirements for transactions with government entities and public sector organizations.
B2B (Business to Business)
Mandatory
Effective: December 1, 2021
Electronic invoicing requirements for transactions between private businesses and commercial entities.
Supported Formats
OFDXML
Additional Notes
Longest-running e-invoicing system globally. OFD format is standard.
Open Banking + E-Invoicing in China
Combining e-invoicing with Open Banking creates powerful automation opportunities. Open Banking APIs enable real-time bank transaction access for automated invoice reconciliation, while Payment Initiation Services (PIS) allow instant payments directly from e-invoices.
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Auto-Reconciliation
Match bank transactions with e-invoices automatically
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Instant Payments
Pay invoices with one click via PIS
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Cash Flow Visibility
Combine invoice & bank data for forecasting
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