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Between June 10 and 11, 2025, leading automakers including GAC Group, FAW Group, Dongfeng Motor, and Xiaomi Auto issued consecutive statements, committing to adjust their payment terms for suppliers to within 60 days. These actions are in direct response to the "Regulations on Ensuring Payment for Goods, Projects, and Services Purchased from Small and Medium-sized Enterprises," implemented by the State Council on June 1. The regulations mandate that when procuring goods, projects, and services from SMEs, government bodies, institutions, and large enterprises must adhere to a maximum payment period of 60 days, while also outlining the legal ramifications for delayed payments by large enterprises. This initiative aims to foster high-quality development in the automotive industry, safeguard supply chain stability, and alleviate financial burdens on suppliers.
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