The issue of delayed payments by Chinese automakers has attracted attention, and the government will provide consulting services.

Kyodo News: The Chinese government will provide consultation services for delayed payments by Chinese automobile manufacturers

Kyodo News, July 11 report, the Ministry of Industry and Information Technology (MIIT) of China announced on July 9 that it has provided online consultation services for small and medium-sized automobile suppliers regarding delayed payments by manufacturers.

If Chinese automobile manufacturers fail to fulfill their payment obligations within 60 days or delay the payment period without just cause, they can seek consultation. At least 17 major automobile manufacturers, including China FAW Group and Dongfeng Motor Corporation (DFM), stated in June that they would complete payments to suppliers within 60 days. With the intensifying price competition in China's automobile industry and the deteriorating cash flow of some automobile manufacturers, payments to suppliers have also been affected.

The Ministry of Industry and Information Technology (MIIT) stated, "How to fulfill payments in the future has drawn great attention from all sectors of society. The policy department will listen to the issues and suggestions of small and medium-sized enterprises and optimize the payment methods."

Original article: https://www.toutiao.com/article/1837328131201163/

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