第一财经·2025-11-05 12:20Core Viewpoint - The automotive industry is shifting away from the "chain" settlement method, which has been a long-standing practice, towards more direct payment methods such as wire transfers and commercial acceptance bills, aiming to shorten the payment cycle for suppliers [3][5]. Group 1: Changes in Settlement Methods - Several automotive companies, including BYD and Great Wall Motors, are transitioning from the "chain" settlement method to a combination of wire transfers and commercial acceptance bills, which significantly reduces the payment cycle from over three months to around 60 days [3][5]. - Some suppliers have reported receiving their first wire transfer under the new 60-day payment term, indicating a positive shift in cash flow management [3]. - However, not all suppliers have experienced this change, with some still using the "chain" method, leading to dissatisfaction among those who have not yet received updates on their payment terms [5]. Group 2: Supplier Perspectives - Suppliers have expressed a preference for cash settlements over commercial acceptance bills, viewing the latter as a mere change in form rather than substance, although commercial acceptance bills offer legal protection and transparency [4]. - There are concerns among suppliers regarding the slow pace of change in settlement methods, with some suppliers feeling frustrated about the lack of uniformity in payment practices across different automotive companies [5]. Group 3: Regulatory Context - The implementation of the "Regulations on Payment of Small and Medium-sized Enterprises" mandates that large enterprises must pay small and medium-sized enterprises within 60 days of delivery, prohibiting the forced acceptance of non-cash payment methods that could extend payment periods [6]. - A coalition of 17 major automotive companies has committed to adhering to the 60-day payment term, although there are still concerns about the consistency and transparency of the payment process [6].