On July 24, 2026, Dazhou Xinyuanda Industrial Co., Ltd., a holding subsidiary of Sichuan Tianfu Renewable Resources Group Co., Ltd., successfully issued the first “reverse invoicing” invoice through the digital service system for “three-flows-in-one reverse invoicing” jointly developed with Alipay via the “Tianfu Renewable Resources Cloud” platform. This marks the first substantive implementation of the digital collaboration between the two parties following their strategic partnership with Alipay, and represents a milestone in the digital transformation and tax compliance development of Sichuan’s renewable resources industry.

The renewable resources recycling industry has long faced the structural challenge of “missing source invoices.” For individual collectors, the lack of invoices, complicated reconciliation, difficulties in tracing sources, and high compliance costs are common pain points across the industry.

Announcement No. 12 of 2026 issued by the State Taxation Administration specifies that, from July 1, 2026, when individual sellers of end-of-life products sell such products to resource recycling enterprises through “three-flows-in-one reverse invoicing,” the portion of annual sales not exceeding RMB 600,000 will be subject to a reduced prepayment rate of 0.25% for individual income tax on business income. The “three-flows-in-one” model embeds tax rules into online payment platforms, integrating the payment flow, invoice flow, and goods flow to achieve “payment triggers invoicing, invoicing triggers tax payment, and tax payment is recorded upon receipt.” The introduction of the new policy has accelerated the standardized upgrading of the renewable resources industry.

On February 12, 2026, the Notice on Issuing the Measures for Implementing the Large-Scale Renewal of Equipment and the Trade-In of Consumer Goods in Sichuan Province in 2026 was officially released. It proposed improving the supply chain service functions of the “Tianfu Renewable Resources Cloud” platform, establishing standardized data collection and monitoring mechanisms, and guiding renewable resources recycling operators to connect to the platform in an orderly manner.

On February 24, 026, the General Office of the Sichuan Provincial People’s Government issued the Implementation Opinions of the General Office of the Sichuan Provincial People’s Government on Further Promoting Innovation and Breakthroughs in the Service Industry, proposing support for the development of the “Tianfu Green Exchange” renewable resources recycling system and incentives of up to RMB 5 million for eligible renewable resources trading venues.

The “Tianfu Renewable Resources Cloud” platform developed by Tianfu Renewable Resources Group has received support from the Sichuan Provincial Supply and Marketing Cooperative and the Provincial Department of Finance. Based on “one network for the entire province,” it makes data visible and traceable across all links of the industry chain, with the aim of digitizing the renewable resources industry chain throughout the province and promoting high-quality industry development.

This cooperation has integrated the payment flow, invoice flow, logistics flow, and information flow: users at the recycling end can simply scan a code to automatically complete the entire process of payment, tax calculation, reverse invoicing, and voucher preservation; enterprises can achieve automatic reconciliation and one-click collection of input vouchers, substantially reducing financial labor costs and eliminating the risks of fraudulent invoicing and non-compliant business operations at the source.

As one of the first payment platforms to obtain the reverse-invoicing qualification under the State Taxation Administration’s “乐企联用” program, Alipay has leveraged its mature technical capabilities, including a nationwide digital payment infrastructure, trusted electronic evidence preservation, online tax services, and AI risk control, to create an integrated digital finance and tax solution adapted to offline recycling scenarios. This invoicing process has made front-end recycling procedures more streamlined and efficient, effectively lowering the threshold for compliant transactions by individual collectors.