On October 8, 2026, Shanxi Provincial Renewable Resources Group and the Shanxi Branch of China UMS Payment Co., Ltd. formally signed the Software Service Agreement for the Online Platform for Reverse-Invoicing Information Technology Services. The two parties will work closely together on “three-flow integration and reverse invoicing” in the renewable resources recycling industry, helping ensure compliant and orderly transactions across the province.

To address common challenges in the industry, Renewable Resources Group took the initiative to break the deadlock, actively contacting payment institutions such as Industrial and Commercial Bank of China and China UMS and connecting with the Leqi platform. It was the first in the province to integrate reverse invoicing into daily settlement processes at 30 transfer stations. In practice, the company purchases scrap from individual sellers. After entering transaction details such as the goods’ name, unit price, and weight, it pays the sellers through the payment platform and issues reverse invoices at the same time. This reduces offline procedures and integrates transaction, payment, and invoice information into a “three-flow” system.

To date, the monthly reverse-invoicing limit across Renewable Resources Group’s entire system has reached 70 million yuan. Cumulative reverse invoicing has exceeded 140 million yuan, contributing more than 7 million yuan in tax revenue.

On October 8, Shanxi Provincial Renewable Resources Group and the Shanxi Branch of China UMS Payment Co., Ltd. formally signed the Software Service Agreement for the Online Platform for Reverse-Invoicing Information Technology Services. The two parties will work closely together on “reverse invoicing” in the renewable resources recycling industry, helping ensure compliant and orderly transactions across the province.

For a long time, the renewable resources recycling industry has faced the problem of missing “first invoices” at the source. Under the traditional model, upstream sources are fragmented, and large quantities of scrap materials come from individuals, independent recycling operators, and small-scale collection and distribution businesses. Some transactions are settled in cash or by personal bank transfer, and most sales are made without invoices. As a result, businesses face difficulties obtaining invoices, a heavy tax burden, and high compliance risks.