Guan Cha Zhe Wang·2025-06-10 13:43Core Viewpoint - Major Chinese automotive companies, including China FAW, Dongfeng Motor, GAC Group, and Seres Group, have committed to a supplier payment term of no more than 60 days, aligning with national policies to support the stability of the supply chain and promote high-quality development in the automotive industry [1][3][5][8]. Group 1: Company Commitments - China FAW has pledged to optimize internal procurement and financial settlement processes, ensuring a payment term of 60 days for suppliers, enhancing fund supervision and process management [1]. - Dongfeng Motor announced a unified payment term of 60 days to support the healthy development of small and medium-sized enterprises, responding to national policies [3]. - GAC Group emphasizes the importance of a healthy supply chain for delivering high-quality products and services, committing to a payment term of no more than 60 days [5]. - Seres Group has consistently adhered to a 60-day payment term as per contracts with suppliers, promoting a win-win situation and advocating for orderly market practices [8]. Group 2: Regulatory Context - The State Council's revised "Regulations on Ensuring Payment to Small and Medium-sized Enterprises" mandates that large enterprises must pay small and medium-sized enterprises within 60 days of delivery, effective from June 1, 2025 [10]. - The regulations stipulate that payments should be made within 30 days for government and public institutions, with a maximum of 60 days for other contracts, ensuring timely payments to support the supply chain [10].