E-invoice rollout

CHINA will implement fully digitalized electronic invoicing across the nation next month following a three-year trial. Part of the country’s broader digital shift, the move will cut administrative costs for the government.

A unified national e-invoicing platform will provide taxpayers with free services for issuing and managing e-invoices from Dec. 1, the State Taxation Administration said. Businesses and individuals can log into their digital tax accounts to request, download, print, and export e-invoices.

CIC’s new chair

THE deputy governor of China’s central bank has moved on to take the reins at China Investment Corporation (CIC), a sovereign wealth fund that manages part of the country’s foreign exchange reserves.

Zhang Qingsong, 59, who was deputy governor at the People’s Bank of China for over two years, succeeded Peng Chun to become chairman of CIC, which has assets of more than US$1 trillion. Peng was appointed CIC chair in April 2019.

Captive panda population

THE global population of giant pandas in captivity has increased to 757, according to Guan Zhi’ou, head of the National Forestry and Grassland Administration.

China has established 67 panda nature reserves in addition to the Giant Panda National Park, covering a combined area of 2.58 million hectares and connecting the habitats of 85% of the country’s wild panda population. There are around 1,900 giant pandas in the wild.