China's 'invoice economy' crackdown leaves copper trade reeling
Geopolitics · Mining.com ·
Beijing's crackdown on the 'fapiao' invoice system is paralyzing parts of China's copper trade. These tax receipts are vital not only for closing payments but also for securing financing, making them critical to keeping metals flowing through the world's largest commodities consumer. Traders warn that not every business will survive the strain of the halt.