Jingdong Introduces First Electronic "Fapiao" in China's E-Commerce Industry
BEIJING, July 2, 2013 /PRNewswire/ -- Jingdong ("JD.com" or the "Company"), China's leading direct B2C e-commerce company, announced today that it recently began offering the first government-issued electronic receipts, or "fapiao," in China's e-commerce industry. The electronic receipts are an additional option for customers beyond the traditional paper fapiao that Jingdong has always offered for all products sold both through its direct sales and POP marketplace platforms.
"The new electronic invoice system provides Jingdong customers another option to keep records of their purchases, and marks the latest step in our efforts to provide best-in-industry service, from authentic products to official fapiao for all transactions," Cai Lei, Jingdong's VP of Tax, commented. "Working together with government authorities, Jingdong's introduction of electronic fapiao marks the digitalization of another critical component of e-commerce transactions, minimizing costs and the environmental impact of paper receipts."
During the current trial period, electronic fapiao are only available to individual customers in Beijing for purchases of books and media products. Customers who choose the new electronic option can download their receipts from JD.com. They can also access records of the receipts from the Beijing Municipal Office of the State Administration of Taxation's ("SAT") online invoice system.
Jingdong plans to expand the coverage of electronic receipts to other product categories and other regions in the future. The SAT issues fapiao as an official record of value-add tax ("VAT") payments for transactions.
Jingdong is the largest B2C direct sales e-commerce company in China (source: iResearch). The Company has achieved around 150% annually compounded growth in gross merchandise volume during past several years and strives to offer the best online shopping experience to its customers. It currently offers more than 9 million SKUs through its B2C direct sales and online marketplace platform. The Company has established nationwide fulfillment capabilities and extensive last mile delivery network to provide superior customer experience. As of May 2013, the Company has 6 major fulfillment centers with 71 warehouses in 27 cities, as well as nearly 1,000 delivery stations and nearly 300 pickup stations nationwide. Through its speedy delivery services, the Company offers same day delivery in 27 major cities and next day delivery in more than 150 cities in China. Its newly launched night delivery and 3-hour delivery services are now available in 6 major cities in China.
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