Hubei Daily News (Correspondents: Li Jin and Zheng Wanlan) “In the past, when we acquired an end-of-life vehicle, we had to repeatedly chase invoices and issue them one by one after making payment. The process was cumbersome and highly prone to errors. Now, through ICBC’s ‘Payment-Triggered Invoicing’ service, invoices are automatically issued at the same time as payment is made. The entire process is seamless and effortless, not only substantially reducing our tax risks but also greatly enhancing the productivity of our finance staff!”

On September 18, 2026, after ICBC Jingmen Branch successfully handled the first integrated three-flow reverse invoicing transaction for end-of-life vehicle recycling for a subsidiary of GEM Group, the company’s finance executive spoke highly of ICBC’s efficient service.

On July 1, 2026, as China’s green development strategy continued to advance, new policies supporting the resource recycling industry and benefiting the circular economy officially came into effect. The policies explicitly allow resource recycling enterprises to conduct “reverse invoicing” when purchasing end-of-life products from individual sellers. However, the “last mile” of policy implementation still faced practical operational challenges. During in-depth client visits, the business department under ICBC Jingmen Branch keenly identified that a GEM Group subsidiary, as a key enterprise in the recyclable resources sector of end-of-life vehicle recycling, needs to make acquisition payments to a large number of individual vehicle owners in its daily operations. Under the traditional settlement model, however, the enterprise faced the challenge of “easy payment but difficult invoice collection” when dealing with individuals. This not only hindered input VAT deductions but also kept financial accounting and tax compliance costs high, becoming an obstacle to the expansion of the company’s business scale.

Understanding the need and resolving the challenge. In response to the company’s urgent needs, ICBC Jingmen Branch acted swiftly by establishing a cross-functional dedicated service team to provide proactive, on-site support. On the one hand, the branch actively coordinated with local tax authorities to thoroughly discuss policy details and clarify compliant business procedures and operating standards. On the other hand, it worked with relevant business units of its superior-level bank and, leveraging ICBC’s strong financial technology foundation, tailored an integrated three-flow reverse invoicing solution based on “Payment-Triggered Invoicing” for the company. During implementation, the branch’s relationship managers and technical team worked closely together, providing step-by-step guidance on system integration and operational training, breaking down data barriers and enabling one-stop, automated, real-time linkage between fund payments and invoice issuance.

Finance serving the people, quietly nourishing all. The successful implementation of this service integrated the flow of funds, invoices, and business operations, effectively removing operational bottlenecks for resource recycling enterprises. It truly achieved “payment triggers invoicing, invoicing triggers tax payment, and tax payment triggers treasury receipt,” directly transforming policy benefits into tangible results for the development of recyclable resources enterprises.