Core Viewpoint - The new regulations on supply chain finance in China aim to enhance the protection of small and medium-sized enterprises (SMEs) and improve the overall health of the supply chain finance ecosystem, effective from June 15, 2025 [1][2]. Summary by Relevant Sections Regulatory Changes - The People's Bank of China, along with several regulatory bodies, has issued new guidelines that officially include accounts receivable electronic vouchers into the regulatory framework, which is expected to foster industry development and innovation [2][3]. - The new regulations signal a shift towards "de-financialization" of supply chain finance platforms, emphasizing their role as information platforms rather than credit platforms, which will promote healthier development of third-party platforms [2][3]. Risk Management - The new regulations introduce a comprehensive credit risk management system, including monitoring of all debts of core enterprises and addressing risks associated with bill circulation [3][4]. - The regulations replace the previous cash flow indicators with a focus on the financial condition of enterprises as a risk warning metric, aiming to create a more robust credit risk prevention framework [3][4]. Payment Practices - The regulations address the issue of delayed payments to SMEs by core enterprises, mandating timely payments and prohibiting unreasonable payment terms or the abuse of non-cash payment methods to extend payment periods [5][6]. - The maximum payment period for accounts receivable electronic vouchers is set at six months, with a maximum of one year [5][6]. Fee Structures - The new guidelines regulate the charging practices of core enterprises and supply chain information service providers, ensuring that fees related to accounts receivable confirmation are reasonable and transparent [6][7]. - Core enterprises are prohibited from charging SMEs under the guise of accounts receivable confirmation and must clearly define and publicize their service fee standards [6][7].
40万亿供应链金融市场迎新规 直击哪些行业潜规则?
Zhong Guo Jing Ying Bao·2025-05-12 10:41