Zhong Guo Ji Jin Bao·2025-06-11 03:14Core 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].