As reported by the China Association of Automobile Manufacturers, the association has launched a standardized initiative concerning payment terms in procurement contracts between complete vehicle companies and their supplier counterparts. This move aims to bolster the implementation of the "Regulation on Ensuring Payment for Small and Medium-sized Enterprises" within the automotive sector. An official from the Ministry of Industry and Information Technology highlighted that China's new energy vehicle industry, still in its nascent stages, is witnessing rapid evolution in product structures, market scales, and industrial forms, with a supply chain system that remains underdeveloped.

Late payments from complete vehicle enterprises to suppliers, the official noted, would intensify operational burdens on suppliers, undermine their investment capabilities, and hinder industrial technological innovation, as well as the development of the industrial and supply chains. Looking ahead, China is set to implement a range of strategies to cultivate a collaborative and mutually beneficial ecosystem for the "complete vehicles - parts" sector, paving the way for the industry's robust and sustainable growth.