SHENZHEN has recently issued the country’s first agency export goods certificate using blockchain technology, which is the first application of blockchain technology in the field of export tax rebate, Shenzhen Economic Daily reported.

The issuance of the certificate marks the completion of the pilot task by Shenzhen’s taxation authority to put certification-related information on the blockchain.

In 2020, Shenzhen processed 900 million yuan (US$138 million) in export tax refund and issued 97,800 agency export goods certificates, accounting for 12 percent of China’s total, official statistics show.

Wan Chunsheng, an official with the city’s taxation authority, said that the previous export tax rebate procedure was time-consuming and complicated. The use of blockchain technology has the advantages in terms of data transparency, real-time sharing and being tamper-proof.

(Xia Yuanjie)