Hainan Province promotes the management of blockchain financial electronic bills

With the development of the economy and society, commercial entities have surged, activities are frequent, and the demand for invoices has increased. Especially when the online e-commerce economy is rising rapidly and offline non-cash payments are basically fully covered, the traditional invoice service system is facing severe challenges. For consumers, paper invoices are difficult to collect and keep. For enterprises, it is necessary to conduct ticket type verification, anti-counterfeiting tax control equipment issuance, etc., which results in high management costs and low use efficiency. As far as the tax bureau is concerned, the printing, approval, and sale of paper invoices consume a lot of manpower and material resources, and the efficiency of risk prevention and control is low.

Based on this, in May 2018, the Shenzhen Taxation Bureau of the State Administration of Taxation and Tencent established the “Intelligent Tax Innovation Laboratory”. Entrusted to carry out a pilot project of blockchain electronic invoices in Shenzhen, combining invoice issuance with online payment, and opening up the entire invoice process. Blockchain electronic invoices use the underlying technology of the blockchain for paperless management of invoices. The transaction-related personnel are used as nodes to upload transaction and invoice-related information on the chain in real time, covering the entire process of registration, invoicing, reimbursement, and other declarations. Process and three-dimensional supervision.

Blockchain electronic bills have the advantages of anti-tampering and traceability, and can realize the credibility of the entire process from issuance to reimbursement. At present, Hainan, Shenzhen, Beijing, and other provinces and cities are actively exploring, and there are pilots and landing applications in many scenarios.     

Since July 5th, the thirteenth batch of institutional innovation cases of Hainan Free Trade Port have been released in a concentrated manner. The innovation in the “blockchain” management of on-chain, integrated, and intelligent financial electronic bills has attracted the attention of the industry. Among them, the Hainan Province block The chain finance electronic bill application management platform has issued over 19 million invoices in half a year, and the amount involved has exceeded 31 billion yuan. In addition, the “Blockchain Electronic Invoice” case data released by the “China Blockchain Development Strategy Research” project shows that the Shenzhen Blockchain Electronic Invoice System established in 2018 currently has over 50 million invoices and over 650 invoices. 100 million yuan.

Experts in the industry generally believe that Hainan and Shenzhen’s advance reforms on blockchain electronic bills have been effective, and Hainan and Shenzhen can serve as reform samples to provide mature experience for other places.      

It is worth mentioning that, unlike other provinces and cities, Hainan has many innovative measures in blockchain financial electronic invoices, achieving national firsts in three aspects:

The first is the nation’s first blockchain financial electronic bill management system;

The second is the nation’s first new mechanism for blockchain collaborative office;

The third is the nation’s first to create a “chain-based” blockchain financial electronic bill service system.    

At present, Hainan has achieved full coverage of blockchain financial electronic bills, all units, all industries, and all fields. Blockchain financial electronic bills have been launched at the provincial level, 20 cities and counties, and all townships. The province has launched a total of 2,795 online blockchain financial electronic bills. Family units, covering the livelihood fields of 14 departments including courts, real estate, hospitals, schools, and banks.    

In fact, since last year, Hainan has thoroughly implemented the “Government Plan for Hainan Free Trade Port Construction” to “give full play to the role of modern information technology such as blockchain” and the provincial party committee and the provincial government have deepened the “maximum run once” reform and deployment, and accelerated the development of the district. Blockchain financial electronic bills will be reformed first. Overall, Hainan’s reform and innovation in blockchain financial electronic bills have been quite effective.    

“Hainan is a free trade port and foreign trade is a pillar industry. Simplifying and optimizing the circulation and management of related bills will have obvious significance in helping its main business.” Hu Jie, a professor of practice at Shanghai Advanced Institute of Finance, was interviewed by a reporter from the Securities Daily Shi said that Zheng Xiangxiang believes that Hainan’s financial electronic bill “blockchain” management innovation, on the one hand, standardizes the application and management standards of blockchain technology in the field of fiscal ticketing, and on the other hand, it is also used in the application of blockchain electronic bills. The comprehensive application of finances nationwide provides a successful pilot experience.      

Chen Xiaohua, co-secretary of the China Innovation and Entrepreneurship Development Research Center of the State Information Center, said in an interview with a reporter from the Securities Daily: “Combined with the tamper-proof and traceability of blockchain technology,’blockchain + bills’ can avoid fake invoices. , To improve functions such as the invoice supervision process, to make fee-related information more secure, to help tax authorities achieve borderless and cross-border monitoring, and to achieve efficient tax management.”    

Experts in the industry generally believe that blockchain electronic bills are technically mature and have many advantages. Blockchain electronic bills will be an important infrastructure for the future economy and society. At present, blockchain electronic bills are developing rapidly, and Hainan and Shenzhen will also Play a good reference template and active demonstration role.

 

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