Core Viewpoint - The Ministry of Industry and Information Technology has launched an online feedback window for small and medium-sized enterprises (SMEs) to report issues regarding major automotive companies' adherence to payment cycle commitments and the implementation of the "Regulations on Ensuring Payment to SMEs" [1] Group 1 - The feedback window addresses four main types of issues related to payment practices of key automotive enterprises [1] - The first issue involves major automotive companies failing to adhere to the 60-day payment commitment, with payment terms in procurement contracts exceeding 60 days [1] - The second issue concerns unreasonable payment term start dates set by major automotive companies, delays in providing inspection or acceptance certificates, and conditional payments based on third-party receipts [1] - The third issue highlights the forced or disguised coercion of SMEs to accept non-cash payment methods such as commercial bills or electronic receivables [1] - The fourth issue pertains to other inadequacies in the implementation of the "Regulations on Ensuring Payment to SMEs" by major automotive companies [1]

Core Viewpoint - The newly revised "Regulations on Ensuring Payment of Small and Medium-sized Enterprises" will enhance the efficiency of accounts receivable collection for SMEs, alleviating cash flow difficulties and providing better financial security for these enterprises starting from June 1, 2025 [1][2]. Group 1: Impact on SMEs - SMEs are a vital source of economic vitality, contributing significantly to employment and innovation, with a reported 6.9% year-on-year increase in value added from small and medium-sized industrial enterprises in 2024, outperforming large enterprises by 2.8 percentage points [1]. - The revised regulations directly address the issues of increasing accounts receivable and extended payment periods faced by SMEs, which have been exacerbated by complex domestic and international conditions [1][3]. Group 2: Key Provisions of the Revised Regulations - The regulations specify payment deadlines, mandating that large enterprises must pay within 60 days of delivery, unless otherwise agreed upon, ensuring timely payments to SMEs [2]. - Non-cash payment methods are further regulated, prohibiting the forced acceptance of commercial bills or electronic vouchers, which could extend payment periods [2]. - The regulations clarify the obligation to pay undisputed amounts promptly, even if there are disputes regarding other parts of the transaction [2]. Group 3: Broader Economic Context - The revised regulations align with the "Action Plan for Accelerating the Clearance of Arrears to Enterprises" approved by the State Council, emphasizing the need for timely payments to SMEs and private enterprises [4]. - The "Promotion Law of the Private Economy" reinforces the legal obligations for timely payments from state-owned and large enterprises to private economic organizations, creating a stronger legal framework against payment delays [4].

Market Performance - The A-share market continues its upward trend, with the Shanghai Composite Index closing above the 3400-point mark, driven by financial sectors such as brokerage and insurance [1][3] - The automotive parts sector experienced a surge, with multiple companies hitting the daily limit up [1] Automotive Parts Sector - Notable performers include: - Tongxin Transmission: +29.95% to 21.52 - Meichen Technology: +20.23% to 2.08 - Xinrui Technology: +20.00% to 20.46 - Other companies like Quan Feng Automotive, Disenli, and Jinqilin also reached the daily limit up [2] Supplier Payment Terms - Major automotive companies, including China FAW, Dongfeng Motor, and BYD, announced a unified supplier payment term of 60 days [5][7] - This change is significant as the industry typically sees payment terms ranging from 160 to 260 days, indicating a shift towards more favorable cash flow conditions for suppliers [7] Regulatory Context - The recent announcements align with the revised "Regulations on Payment of Small and Medium-sized Enterprises" issued by the State Council, which mandates large enterprises to pay small and medium-sized suppliers within 60 days starting from June 1, 2025 [9] - Industry insiders view this collective move by automakers as a positive step, although they remain cautious about the actual implementation [11]

Core Viewpoint - Multiple automotive companies in China have committed to unifying their supplier payment terms to a maximum of 60 days, 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 - Xiaomi Auto has pledged to implement a 60-day payment term for suppliers to enhance supply chain stability and support high-quality development in the automotive sector [5]. - Geely Auto Group announced a similar commitment to unify supplier payment terms to 60 days, aiming to accelerate capital turnover efficiency within the industry [5]. - Changan Automobile, along with its subsidiaries, has also committed to a 60-day payment term to fulfill its social responsibility and support the efficient flow of funds for small and medium-sized enterprises [8]. - BYD has declared its intention to unify supplier payment terms to 60 days, aligning with national directives to stabilize the supply chain and promote the healthy development of small and medium enterprises [9]. - Chery Group has decided to implement a 60-day payment term starting June 10, to enhance capital turnover efficiency and ensure supply chain stability [11]. - XPeng Motors has committed to a 60-day payment term to support the healthy development of small and medium enterprises [13]. - BAIC Group has promised to strictly adhere to a 60-day payment term for all eligible partners, eliminating unreasonable settlement methods that increase cash flow pressure on suppliers [14]. - Leap Motor has reiterated its commitment to the "60-day payment" principle, ensuring efficient payment processes [14]. Group 2: Industry Response to National Policies - The automotive companies' unified commitment to a 60-day payment term is a proactive response to the State Council's revised "Regulations on Ensuring Payment to Small and Medium Enterprises" and the China Association of Automobile Manufacturers' initiative to maintain fair competition and promote healthy industry development [16][17]. - The revised regulations stipulate that large enterprises must pay small and medium enterprises within 60 days of delivery, emphasizing the importance of timely payments to support the financial health of smaller suppliers [17].

Core Viewpoint - Multiple automotive companies have committed to ensuring that supplier payment terms do not exceed 60 days, aiming to improve industry practices regarding payment delays and enhance brand reputation while reducing supplier risks [1][12]. Group 1: Company Responses - As of the report, 17 automotive companies have publicly committed to the 60-day payment term, including major players such as China FAW, Dongfeng Motor, GAC Group, BYD, Changan Automobile, Geely, Xpeng Motors, Xiaomi Auto, Chery, BAIC Group, Leap Motor, Great Wall Motors, Li Auto, and NIO [2][11]. - GAC Group was the first to announce its commitment on June 10, stating it will maintain a supplier payment term of no more than 60 days to ensure efficient cash flow in the supply chain [2]. - China FAW followed suit, emphasizing its support for national policies aimed at stabilizing the industrial supply chain by reducing payment terms to within 60 days [7]. - Dongfeng Motor, Seres, and Geely also announced their alignment with national policy by standardizing payment terms to 60 days [8]. - Changan Automobile and its subsidiaries declared their commitment to the 60-day payment term on June 11 [9]. - BYD and Chery confirmed their adherence to the 60-day payment term, aligning with directives from national authorities [10]. Group 2: Industry Context - The commitment to a 60-day payment term aligns with the 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 enterprises within 60 days [12]. - The regulations stipulate that government agencies and institutions must pay for goods and services from small and medium-sized enterprises within 30 days, with a maximum of 60 days if otherwise agreed [12]. - The automotive industry is expected to benefit from these commitments, as they address existing issues within the sector and promote high-quality development [12].

Core Viewpoint - Multiple domestic automakers have announced a unified payment term of 60 days for suppliers, responding to the government's initiative to support small and medium-sized enterprises and promote high-quality development in the automotive industry [1][2][3][11][14]. Group 1: Company Announcements - BYD announced the implementation of a 60-day payment term for suppliers to stabilize the supply chain and support the healthy development of small and medium-sized enterprises [1]. - Xpeng Motors also declared a unified payment term of 60 days for suppliers [2]. - Dongfeng Motor Group stated that the 60-day payment term aims to enhance efficient capital flow within the supply chain [3]. - GAC Group committed to maintaining a payment term of no more than 60 days to ensure efficient capital turnover in the supply chain [5]. - China FAW Group emphasized the importance of a 60-day payment term and plans to optimize processes for better efficiency [7]. - Geely Auto Group announced a unified payment term of 60 days to accelerate capital turnover and stabilize the supply chain [11]. Group 2: Regulatory Context - The collective response from domestic automakers aligns with the "Regulations on Ensuring Payment to Small and Medium-sized Enterprises," which mandates a 60-day payment term and prohibits forced acceptance of non-cash payment methods [14]. - The Ministry of Industry and Information Technology has called for measures to address issues in the new energy vehicle industry, with the payment term regulation being a specific action to combat payment delays [14].

6月10日晚，多家汽车巨头集体发文表示，对供应商 账期 不超过60天！ 中国一汽官方公众号发布公告，表示将以实际行动维护市场经济秩序健康稳定，其中提到确 付款期限和支付方式，将"60天付款"作为所属单位付款期限要求，加强资金监督和过程管 理。 赛力斯集团表示，一直以来，赛力斯按照与供应商的合同约定付款，正常货款账期60天，实 现主机厂与供应商双赢。 广汽集团发布关于供应商账期的郑重承诺，表示坚持以不超过60天的供应商账期，保障供应 链资金高效周转。 东风汽车宣布，将支付账期统一至60天内，助力产业链良好协同发展。 此前，国务院总理李强日前签署国务院令，公布修订后的《保障中小企业款项支付条例》， 自2025年6月1日起施行。其中提到明确机关、事业单位和大型企业支付中小企业款项的期限 要求，增加规定大型企业应当自货物、工程、服务交付之日起60日内支付款项。（→ 详情 ） 来 源 | 2 1财经客户端、中国一汽、广汽集团、东风汽车 本期编辑 刘雪莹 21君荐读 蜜雪冰城一门店或被检控！产品大肠杆菌超标70% 利润率不及4%！ 汽车业集体"反内卷" 一家新汽车央企将诞生！总部极大概率落户重庆 SFC ...

Core Viewpoint - The Chinese government has prioritized the repayment of debts owed to small and medium-sized enterprises (SMEs), as evidenced by the revised "Regulations on Ensuring Payment to SMEs," which mandates payment deadlines not exceeding 60 days for government and large enterprises [1][3][9]. Group 1: Importance of Debt Repayment - The urgency of repaying debts to SMEs has increased, with the government taking systematic measures to address the issue since 2020 [5][9]. - The Ministry of Industry and Information Technology has established a platform for registering complaints about overdue payments, processing 48,000 complaints in 2024 alone [6][7]. - The total amount of overdue payments registered has exceeded 360,000, indicating a significant problem that requires immediate attention [7]. Group 2: Economic Impact of Overdue Payments - As of the end of last year, the accounts receivable of large-scale industrial enterprises surpassed 26 trillion yuan, which is 3.5 times the total profit of all enterprises [12]. - The increase in accounts receivable has a direct impact on cash flow, particularly for SMEs, which can lead to broader economic consequences [19]. - Activating just 10% of the overdue accounts could release 2.6 trillion yuan in liquidity, significantly boosting consumer spending [19]. Group 3: Changes in Regulations - The revised regulations require government agencies and large enterprises to complete payments within 30 to 60 days, with penalties for late payments [20]. - The regulations prohibit forcing SMEs to accept non-cash payment methods, which could extend payment periods [20]. - Provincial governments are now held accountable for ensuring timely payments to SMEs, with strict penalties for non-compliance [21][22]. Group 4: Strategic Importance - The government's focus on clearing debts is seen as a strategic move to stimulate consumption and internal demand, crucial for economic recovery [18][23]. - The revised regulations are more stringent than the previous version, reflecting the urgent need to restore credit within the economic system [23][24].

Group 1 - The core viewpoint emphasizes the importance of addressing the issue of overdue payments to small and medium-sized enterprises (SMEs) to enhance their operational efficiency and competitiveness [1][2] - The revised "Regulations on Ensuring Payment of Small and Medium-sized Enterprises' Receivables" aims to provide a legal framework for SMEs to recover debts, including stricter penalties for overdue payments [2] - SMEs are identified as crucial drivers of economic growth, employment, and innovation, yet they face significant challenges in debt recovery due to their relatively weak market position and inadequate enforcement of existing laws [1][2] Group 2 - The new regulations stipulate that government investment project funds must be secured according to national guidelines and prohibit construction units from advancing funds [2] - It mandates that government agencies and institutions must pay SMEs within 30 days of delivery of goods, services, or projects, and cannot require audit results as a basis for settlement [2] - A national complaint platform for overdue payments will be established, with a maximum processing time of 90 days, and local governments are tasked with enhancing oversight and enforcement against overdue payments [2]

Core Viewpoint - The newly revised "Regulations on Ensuring Payment of Small and Medium-sized Enterprises" aims to address the issue of "difficulty in debt collection" faced by SMEs through a series of "hard constraints" measures, emphasizing the importance of SMEs in the economy [1][3]. Group 1: Importance of SMEs - SMEs contribute over 50% of tax revenue, create more than 60% of GDP, and provide over 80% of urban employment, making them a key engine for economic growth, job absorption, and innovation [1]. - The difficulty in debt collection for SMEs is largely due to their relatively weak market position compared to larger enterprises, which have greater bargaining power [1][2]. Group 2: Impact of Delayed Payments - Delayed payments severely impact SMEs' cash flow, leading to inability to pay for raw materials, production stagnation, and operational difficulties [2]. - The inability to predict cash recovery timelines disrupts SMEs' normal development, hindering investment plans, R&D, equipment updates, and market expansion, ultimately resulting in loss of market competitiveness [2]. - Delayed payments also affect credit ratings, increasing financing difficulties and creating a vicious cycle that can lead to business closures, impacting the stability of the entire industry chain [2]. Group 3: New Regulations - The revised regulations provide a legal basis for SMEs to pursue overdue payments, with increased penalties for delayed payments [3]. - Key provisions include ensuring government project funding is secured, requiring payment within 30 days for government purchases from SMEs, and 60 days for large enterprises [3]. - A national complaint platform for overdue payments will be established, with a maximum processing time of 90 days, and local governments are mandated to enhance oversight mechanisms [3]. Group 4: Implementation and Environment - The implementation of "hard constraints" is essential for optimizing the business environment and promoting high-quality economic development [4]. - Effective execution requires collaboration across legal, regulatory, and credit systems to create a fair, orderly, and trustworthy business environment for SMEs [4].