China Life pilots electronic invoices in Beijing

  • by

China Life Insurance Company has become the first in the mainland to issue electronic invoices in a non e-commerce sector.

Electronic receipts are available for customers only in Beijing when they buy China Life products online and offline, said Yang Zheng, vice president of China Life.

He also said that 50 million paper invoices, at a cost of tens of million yuan, can be saved if the pilot project is expanded to branches and outlets across China.

The State Council, China’s cabinet, said in a directive in Nov 2014 that it supported the use of electronic receipts. Since then, Beijing has decided to expand the use of digital proof in finance, insurance, large retail, telecom, and other offline sectors.