Chinese Automakers
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Automakers Pledge 60-Day Payment Terms: Compliance Under Scrutiny
In June, 17 Chinese automakers pledged to cap supplier payments at 60 days. Two months later, some companies, including FAW, Dongfeng, and GAC, are actively working towards this goal, with three already achieving it. Companies are adjusting financial strategies and streamlining processes. This commitment aligns with upcoming regulations mandating 60-day payment terms for SMEs, aiming to improve the business environment and alleviate payment arrears. CCID highlights specific initiatives by FAW, GAC, and SERES.
