Xin Lang Cai Jing·2025-06-11 05:39Core Viewpoint - The automotive industry is entering a significant phase of reducing payment terms to suppliers, with multiple major companies committing to a maximum payment period of 60 days to enhance supply chain efficiency and support high-quality industry development [1][19]. Group 1: Company Announcements - GAC Group announced a commitment to maintain supplier payment terms within 60 days to ensure efficient capital turnover and promote high-quality development in the industry [1]. - China FAW Group emphasized its role as a major state-owned enterprise, viewing suppliers as close partners and committing to a 60-day payment term to support market stability and high-quality development [5][7]. - Dongfeng Motor Corporation declared its alignment with national policies to support small and medium enterprises by standardizing payment terms to 60 days [8][11]. - Seres Group responded to the automotive industry's call for fair competition and healthy development, stating that it has always adhered to a 60-day payment term with suppliers [12][13]. - Geely Auto Group announced its commitment to a 60-day payment term to enhance capital turnover efficiency and stabilize the supply chain, in response to national regulations [16][19]. Group 2: Regulatory Context - The State Council's revised "Regulations on Ensuring Payment to Small and Medium Enterprises" stipulates that large enterprises must pay small and medium enterprises within 60 days of delivery, aligning with the commitments made by the automotive companies [21]. - The China Automotive Industry Association's recent initiative highlighted the negative impact of price wars on the industry, reinforcing the need for timely payments to maintain supply chain stability [21][22].