Core Viewpoint - Multiple automotive companies in China have collectively committed to a payment term of no more than 60 days for suppliers, responding to national policies aimed at stabilizing the supply chain and promoting high-quality development in the automotive industry [1][15]. Group 1: Company Commitments - BYD announced a unified payment term of 60 days for suppliers, aligning with national directives to support the stability of the supply chain and promote the healthy development of small and medium-sized enterprises [7]. - Xiaomi Auto, Geely Auto Group, Changan Automobile, Chery Group, Xpeng Motors, and BAIC Group have all made similar commitments to ensure that supplier payment terms do not exceed 60 days [2][3]. - GAC Group, China FAW, Dongfeng Motor, and Seres also pledged to shorten supplier payment terms to within 60 days, emphasizing the importance of efficient capital turnover in the supply chain [3]. Group 2: Industry Context - The commitment to a 60-day payment term is a response to the State Council's revised "Regulations on Ensuring Payment to Small and Medium-sized Enterprises," which will take effect on June 1, 2025, mandating that large enterprises pay small and medium-sized suppliers within 60 days [16]. - The Chinese Automobile Industry Association has advocated for maintaining fair competition and promoting healthy industry development, particularly in the context of the rapid transformation and upgrading of the automotive sector [17].

Group 1 - Several automotive companies, including BYD, Chery, Xiaomi, and Changan, have committed to a payment term of no more than 60 days for suppliers to enhance supply chain stability and support the healthy development of small and medium-sized enterprises [1][2] - The commitment to shorten payment terms is in response to directives from national ministries aimed at promoting high-quality development in the automotive industry and ensuring the stability of the supply chain [1][2] - The reduction in payment terms is expected to accelerate cash flow for suppliers, allowing them to reinvest in raw materials, equipment upgrades, and production expansion, thereby improving production stability and reducing risks associated with cash flow constraints [2] Group 2 - The "Regulations on Ensuring Payment to Small and Medium-sized Enterprises" will take effect on June 1, 2025, mandating a 60-day payment period and prohibiting forced acceptance of non-cash payment methods [3] - The regulations aim to address issues of delayed payments to small and medium-sized enterprises and optimize the business environment, requiring large enterprises to pay within 60 days of delivery [3] - Concerns have been raised regarding some automotive companies using supply chain finance platforms to delay payments to upstream suppliers, thereby increasing financial pressure on those suppliers [3]

Core Viewpoint - Multiple domestic automakers have announced a unified payment term of 60 days for suppliers, responding to the government's initiative to support small and medium-sized enterprises and promote high-quality development in the automotive industry [1][2][3][11][14]. Group 1: Company Announcements - BYD announced the implementation of a 60-day payment term for suppliers to stabilize the supply chain and support the healthy development of small and medium-sized enterprises [1]. - Xpeng Motors also declared a unified payment term of 60 days for suppliers [2]. - Dongfeng Motor Group stated that the 60-day payment term aims to enhance efficient capital flow within the supply chain [3]. - GAC Group committed to maintaining a payment term of no more than 60 days to ensure efficient capital turnover in the supply chain [5]. - China FAW Group emphasized the importance of a 60-day payment term and plans to optimize processes for better efficiency [7]. - Geely Auto Group announced a unified payment term of 60 days to accelerate capital turnover and stabilize the supply chain [11]. Group 2: Regulatory Context - The collective response from domestic automakers aligns with the "Regulations on Ensuring Payment to Small and Medium-sized Enterprises," which mandates a 60-day payment term and prohibits forced acceptance of non-cash payment methods [14]. - The Ministry of Industry and Information Technology has called for measures to address issues in the new energy vehicle industry, with the payment term regulation being a specific action to combat payment delays [14].

长安汽车表示，近期，工信部、国资委等国家部委就保障产业链供应链稳定、促进汽车产业高质量发 展作出一系列部署要求，为深入贯彻落实中央和部委的精神，长安汽车携旗下长安启源、长安凯程、 深蓝汽车、阿维塔，向行业宣布，将供应商支付账期统一至60天内，以切实行动践行央企社会责 任，保障中小企业资金高效流转，助力产业链良好协同运行，共同努力，推进行业高质量发展。 6月10日夜至11日上午， 小米、理想、长安、长城、比亚迪、奇瑞、 一汽、东风、广汽、小鹏、赛 力斯、吉利 等汽车生产企业陆续发表声明，承诺"支付账期不超过60天"。 吉利汽车集团则表示，将供应商支付账期统一至60天内，以加速产业链资金周转效率，保障产业链 供应链稳定，发挥领军企业担当，促进汽车产业高质量发展。 又有 多家车企官宣将支付账期统一至60天内。 小鹏汽车官方微博也宣布， 将支付账期统一至60天内 。 6月11日上午，小米汽车表示，坚决落实国家及相关主管部门就促进汽车产业高质量发展、保障供应 链稳定作出的部署要求，将供应商支付账期统一至60天内。将以切实行动，携手上下游伙伴，共同 推动中国汽车产业高质量发展。 ...

Domestic News - The State-owned Assets Supervision and Administration Commission (SASAC) has launched a training program for talent in the new energy sector to support the green transformation of central enterprises [2] - The Central Committee and the State Council have issued opinions to support Shenzhen in deepening the reform and innovation of unmanned aerial vehicle flight management systems [3] - Shanghai's new energy vehicle ownership exceeded 1.512 million units in 2024, with pure electric vehicles accounting for 71% of the total [4] - The China Logistics and Purchasing Federation reported a recovery in the road logistics price index, which reached 105 points in May, reflecting a 0.06% month-on-month increase and a 2.02% year-on-year increase [5] - The China-Europe Railway Express has transported over 60% of its exports in high-value goods such as automotive parts, machinery, and electronics [6] International News - Toyota and Daimler Trucks plan to complete the merger of their truck divisions by April 2026 to enhance profitability and develop new technologies [7] - Vietnamese electric vehicle manufacturer VinFast reported a 296% year-on-year increase in vehicle deliveries in the first quarter, totaling 36,330 units [8] Corporate News - China FAW Group has implemented a payment term of 60 days for its subsidiaries to optimize procurement and financial settlement processes [11] - Dongfeng Motor Group announced a unified payment term of 60 days to support the healthy development of small and medium-sized enterprises [12] - GAC Group will maintain a supplier payment term of no more than 60 days to ensure efficient capital turnover in the supply chain [13] - Geely Auto Group has committed to a unified payment term of 60 days to enhance the efficiency of capital turnover in the supply chain [14] - Changan Automobile has announced a unified payment term of 60 days to support the stable flow of funds in the supply chain [15] - Seres Group stated it will adhere to a 60-day payment term as per contracts with suppliers to promote collaborative development in the industry [16] - Chery Automobile's chairman emphasized that competition in the automotive industry should focus on technology and products rather than creating noise and internal strife [17] - Xiaomi Auto has denied rumors of a fatal accident during advanced driving training and plans to take legal action against the spread of false information [18] - Cao Cao Mobility has passed the listing hearing at the Hong Kong Stock Exchange [19] - CATL has announced the mass production of a new 587Ah battery cell, achieving a 25% increase in energy density compared to the previous generation [20]

来源：环球网 【环球网智驾综合报道】6月11日，国内汽车行业迎来重大举措，多家车企纷纷宣布将供应商账期改为 60天，此举在汽车供应链领域引发广泛关注，为行业健康发展注入新动力。 多家车企集体将供应商账期改为60天，无疑是汽车行业的一次积极变革。在汽车行业竞争日益激烈的当 下，这一举措展现出车企对行业健康发展的深刻思考与责任担当。 过去，行业内"内卷式"竞争带来的恶性循环，不仅损害了供应商的利益，也破坏了整个产业链的生态平 衡。而此次车企主动缩短账期，是对国家政策的有力响应，更是对市场规律的尊重。通过加快资金周 转，产业链上下游企业能够获得更稳定的资金支持，从而有更多资源投入到研发、生产和服务中，提升 整个行业的竞争力。 6月10日晚间，广汽、东风、中国一汽三大国有汽车巨头率先行动。广汽集团通过官微发布"关于供应商 账期的郑重承诺"，明确坚持不超过60天的供应商账期，旨在保障供应链资金高效周转，携手上下游伙 伴推动行业高质量发展。中国一汽积极响应国家部委关于保障产业链供应链稳定的部署，将供应商付款 账期缩短至60天以内。东风汽车也宣布，为深入贯彻落实国家政策精神、助力中小企业健康发展，将支 付账期统一缩短至60 ...

Core Viewpoint - The automotive industry is collectively responding to the "involution" phenomenon by unifying supplier payment terms to within 60 days, marking a significant shift in supply chain management and compliance with new national regulations [1][10][14]. Group 1: Industry Response - GAC Group initiated the movement by emphasizing the link between supply chain health and product quality, committing to a payment term of no more than 60 days [2]. - China FAW followed suit, highlighting its commitment from a national strategy perspective and outlining specific measures to enhance processes and technology [4]. - Dongfeng Motor, as a representative of the industry, stated that the unified payment term is a response to national policies and reflects its role in the supply chain [6]. - New energy vehicle representative, Seres, reiterated its consistent practice of a 60-day payment term and called for industry self-discipline [8]. - Other major players like Changan Automobile and Geely also joined the initiative, further solidifying the collective commitment to the 60-day payment term [10]. Group 2: Underlying Issues - The collective statements from multiple automakers are a response to long-standing frustrations within the automotive supply chain, as highlighted by a public letter from a supplier that expressed the desire for timely payments [12]. - The competitive pressure has led to extended payment terms, with some companies reporting accounts payable turnover days exceeding 90 days, and in some cases, reaching 120 days or more [12]. - The chaotic competition has drawn regulatory attention, with recent government regulations mandating that large enterprises must complete payments to small and medium-sized enterprises within 60 days [13]. Group 3: Future Implications - The unified commitment to a 60-day payment term is seen as a critical step towards rationalizing competition in the automotive market, potentially alleviating the pressure on suppliers and improving their cash flow [14]. - This collective action signifies a major shift in supply chain management philosophy within the automotive industry, moving towards a healthier ecosystem [14]. - The initiative may represent a turning point for the Chinese automotive industry, transitioning from a "zero-sum game" to a "win-win" scenario, supported by both policy guidance and industry self-regulation [14].

Core Viewpoint - The automotive industry is responding to a national call to standardize payment terms to suppliers within 60 days, aiming to alleviate cash flow issues and promote high-quality development in the sector [1][2][4]. Group 1: Industry Response - GAC Group was the first to announce the commitment to a 60-day payment term for suppliers, followed by major state-owned enterprises like FAW and Dongfeng, and other leading companies such as Geely and Changan [1][2]. - As of the latest updates, a total of eight automotive companies, including BYD and Chery, have pledged to adhere to the 60-day payment term, indicating a potential trend for more companies to follow suit under public pressure [4][11]. Group 2: Historical Context and Current Issues - Historically, the average payment cycle for domestic automotive companies has increased from approximately 45 days a decade ago to over 170 days currently, with some companies exceeding 240 days [5][6]. - In contrast, international automotive giants like Toyota and Ford maintain much shorter payment cycles, averaging around 54 to 64 days [5][6]. Group 3: Implications of the New Policy - The introduction of a standardized 60-day payment term is seen as a revolutionary change for the automotive supply chain, potentially improving cash flow and reducing financial strain on suppliers [5][11]. - The policy aims to shift the automotive industry from a "dominance of manufacturers" model to a more equitable collaboration between manufacturers and suppliers, fostering a healthier business environment [15]. Group 4: Regulatory Framework - The revised "Regulations on Payment to Small and Medium Enterprises" effective from June 1, 2023, addresses long payment cycles and aims to enhance regulatory oversight, ensuring timely payments [10][15]. - The regulations include provisions to prohibit coercing small businesses into accepting non-cash payment methods, thereby preventing the circumvention of the 60-day payment rule [15]. Group 5: Market Reactions and Concerns - While the announcement has been met with optimism from industry stakeholders, there are concerns regarding the actual implementation and potential loopholes that could allow companies to extend payment periods through various means [13][15]. - The effectiveness of the new policy will depend on the commitment of automotive companies to adhere to the regulations and the enforcement of penalties for non-compliance [15].

Group 1: Policy and Regulatory Developments - The Central Committee and State Council issued a document to promote the Shenzhen comprehensive reform pilot, supporting innovations in artificial intelligence-assisted medical devices and unmanned aerial vehicle flight management [1] - The State Administration for Market Regulation released a draft regulation to strengthen the supervision of live e-commerce, emphasizing the responsibility of live stream operators to avoid false or misleading commercial promotions [1] - The Ministry of Commerce announced a delay in the anti-dumping investigation of imported pork and pork products from the EU, extending the investigation period to December 16, 2025 [1] Group 2: Corporate Actions and Financial Developments - Several automotive companies, including China FAW, Dongfeng, and Geely, announced a unified payment term of 60 days for suppliers, reflecting a commitment to sustainable supply chain development [1] - Tencent Music plans to acquire Ximalaya for a total of $1.26 billion in cash and stock [1] - The National Taxation Administration reported a significant increase in tax refund applications for departing tourists, with a 116% year-on-year increase in the number of applications processed [1] Group 3: Economic Indicators and Market Trends - The World Bank downgraded its global economic growth forecast for 2025 from 2.7% to 2.3%, with nearly 70% of economies experiencing downward revisions [3] - The unemployment rate in the UK rose to 4.6%, the highest level in nearly four years, influenced by increased employer national insurance tax rates and minimum wage hikes [3] - The EIA maintained its forecast for Brent crude oil prices at $66 per barrel for 2025, while adjusting the 2026 forecast down to $59 per barrel [3]

Group 1 - US and China are engaged in trade talks in London, with US Commerce Secretary stating that discussions are progressing smoothly [2] - The talks aim to rebuild confidence in fulfilling commitments made in Geneva, including a temporary reduction of punitive tariffs within 90 days [2] - The US is considering lifting recent restrictions on various sectors, contingent on China easing rare earth export controls [2] Group 2 - The Chinese government has issued guidelines to enhance social security fairness and improve public services, focusing on equitable access and diverse social services [3] - The guidelines emphasize expanding social security coverage as a key measure to improve people's livelihoods [3] Group 3 - A meeting hosted by the National Development and Reform Commission (NDRC) focused on gathering opinions from private enterprises regarding the 14th Five-Year Plan, particularly in technology innovation [5] - Private enterprises highlighted the importance of integrating technology innovation with market expansion and social improvement in the planning process [5] Group 4 - The central government has released a significant policy package to support Shenzhen's reform and opening-up efforts, aiming for high-quality economic development [6] - The policy encourages the integration of vocational training with advanced manufacturing and supports foreign investment in vocational training institutions [6] Group 5 - Several automotive companies announced a unified payment term of 60 days for suppliers, aligning with the revised regulations to support small and medium enterprises [7] - This initiative aims to enhance the efficiency of capital flow within the supply chain and promote the healthy development of the industry [7] Group 6 - Xiaomi's CEO responded to rumors about a fatal accident during a high-level driving training program, emphasizing the importance of training under challenging conditions [9] - Meituan's CEO expressed opposition to unhealthy competition in the food delivery sector, advocating for a collaborative and innovative market environment [9] Group 7 - The stock market showed mixed performance, with A-shares experiencing a decline while US stocks reached new highs [13][15] - The market is expected to see volatility, with a recommendation for a "reverse layout" strategy focusing on dividend assets and technology sectors [14]