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]

6月11日，"比亚迪宣布60天内付款""账期不超过60天意味着什么"等词条，登上微博热搜。 6月10日深夜至6月11日上午，小米汽车、吉利汽车集团、长安汽车、比亚迪汽车、奇瑞集 团、小鹏汽车、北汽集团、零跑汽车等车企相继发表声明，承诺"支付账期不超过60天"。 6月10日晚间，广汽集团、中国一汽、东风汽车、赛力斯等车企也承诺将供应商账期缩短至 60天以内。 多家车企先后跟进 小米汽车承诺，坚决落实国家及相关主管部门就促进汽车产业高质量发展、保障供应链稳定 的部署要求，将供应商支付账期统一至60天内。 吉利汽车集团宣布，将供应商支付账期统一至60天内，以加速产业链资金周转效率，保障产 业链供应链稳定，促进汽车产业高质量发展。 长安汽车携旗下长安启源、长安凯程、深蓝汽车、阿维塔宣布，将供应商支付账期统一至60 天内，以切实行动践行央企社会责任，保障中小企业资金高效流转，助力产业链良好协同运 行。 比亚迪汽车宣布，将供应商支付账期统一至60天内，以落实国家及相关部委就保障产业链供 应链稳定、促进汽车产业高质量发展作出的一系列部署要求，助力中小企业健康发展。 小鹏汽车宣布，将支付账期统一至60天内，以保障产业链供应链 ...

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].

6月11日凌晨1时28分，比亚迪汽车通过官方微信宣布，将供应商支付账期统一至60天内。 比亚迪表示，此举是为落实国家及相关部委就保障产业链供应链稳定、促进汽车产业高质量发展作 出的一系列部署要求，以及助力中小企业健康发展，以切实行动推动中国汽车产业高质量发 展。"未来，比亚迪汽车将继续通过技术创新与管理优化，携手上下游伙伴共同推动中国汽车产业 行稳致远。" 此前，6月10日晚上，多家车企先后对外发声表态。东风汽车集团有限公司宣布，将支付账期统一 至60天内，此举旨在以切实行动推动上下游资金高效流转，助力产业链良好协同发展。 6月11日上午，小鹏汽车官方微博也宣布，将支付账期统一至60天内。 同一天，广汽集团发布关于供应商账期的郑重承诺称："供应链体系的健康发展是保障产品高安 全、高品质的基础。为此，广汽集团将一如既往，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，携手上下游伙伴，共同促进行业高质量发展。" 中国一汽也发文表示，要明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。此外，中国一汽还将优化流程，提升效率。加强采购、财务等部门内部协 同，进一步精简 ...

分区域来看，5月份，东部、中部、西部和东北地区中小企业发展指数分别为90.5、90.3、88.7和81.8。 中国中小企业协会常务副会长马彬表示，随着政策效应持续释放，中小企业发展预期回升明显，市场需 求稳步改善。但同时要看到，外部环境不确定性仍然存在，国内需求和消费有待进一步提振，中小企业 面临的困难挑战依然较大。下一步，要坚持扩大需求和提振消费，多措并举帮扶困难企业，加快推动内 外贸一体化，积累更多有利条件，为中小企业创造更大市场机遇，巩固回升向好势头。 （文章来源：证券日报） 5月份，宏观经济感受指数、综合经营指数、市场指数、资金指数、劳动力指数、投入指数、效益指数 较4月份分别上升0.7点、0.6点、0.2点、0.3点、0.2点、0.4点和0.4点。成本指数与4月份持平，中小企业 景气水平回升向好。 分行业看，5月份，工业、交通运输业、房地产业、批发零售业、信息传输软件业和住宿餐饮业，较4月 份分别上升0.6点、0.6点、0.2点、0.1点、0.4点和0.4点。建筑业和社会服务业分别下降0.2点和0.3点。总 体行业运行稳中向好。 6月10日，中国中小企业协会发布数据显示，5月份中国中小企业发展指数（ ...

Core Insights - The Small and Medium Enterprises Development Index (SMEDI) in China rose to 89.5 in May, marking a 0.3 point increase from April, indicating a significant recovery after two months of decline [1][5]. Economic Performance - Since the beginning of the year, the production and sales of small and medium enterprises (SMEs) in China have shown continuous improvement, with innovation and vitality emerging strongly, providing robust support for industrial economic growth [3]. - The macroeconomic sentiment index, comprehensive operation index, market index, funding index, labor index, investment index, and efficiency index all increased in May, reflecting a positive trend in SME performance [5]. Industry and Regional Analysis - In May, six out of eight industry indices increased, with notable rises in sectors such as industry, transportation, real estate, wholesale and retail, information transmission, software, and accommodation and catering [5]. - The development indices for SMEs in the eastern, central, and northeastern regions increased, while the western region saw a slight decline [5]. Policy and Institutional Environment - The institutional environment for promoting SME development has been continuously optimized, with several new regulations and guidelines introduced to support SMEs, including the implementation of the "Private Economy Promotion Law" [7][8]. - The Ministry of Industry and Information Technology emphasized the need for legal administration and the establishment of a complaint platform to protect the rights of SMEs [7]. Future Outlook - There is a clear indication of improved expectations for SME development, with market demand steadily improving, funding conditions enhancing, and increased labor demand [6]. - The government aims to expand demand and revitalize consumption, while also addressing the challenges faced by SMEs through various supportive measures [6].

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 ...

21世纪经济报道记者杨坪 深圳报道 近日，21世纪经济报道记者从相关人士确认，6月9日，证监会前副 主席、深交所原党委书记、理事长、第十一届全国政协委员陈东征因病在北京逝世，享年74岁。 陈东征在证监系统工作长达17年，曾担任深交所理事长一职14年，是深交所任期最长的理事长。 公开资料显示，陈东征1997年5月开始担任中国证监会副主席，在此之前曾在国务院办公厅工作达10年 之久。 2001年10月，时年50岁的陈东征正式出任深交所党委书记、理事长，带领深交所经历了主板4年停发新 股、创业板艰难待产的岁月，在中国经济转型大潮中，为后者找到了准确的市场定位，也为中小板、创 业板的发展作出了杰出贡献。 一位接近深交所的业内人士表示："陈东征是带领深交所走出低谷的关键人士。" 带领深交所走出低谷 陈东征履新的2001年，正是深交所的"关键时刻"。 彼时，国内关于打造中国版"纳斯达克"的呼声正盛。2000年，国务院决定设立创业板市场。当年7月， 证监会要求深交所筹建创业板。作为配套性措施，从9月起暂停了深交所新股上市业务。 然而，就在社会各界翘首企盼之时，海外纳斯达克互联网泡沫破裂，创新伴随着争议而搁置，这一晃就 是数 ...

美国5月NFIB中小企业乐观程度指数 98.8%，预期 96%，前值 95.8%。 ...

Group 1: Economic Indicators - In May, the macroeconomic sentiment index, comprehensive business index, market index, funding index, labor index, input index, and efficiency index increased by 0.7, 0.6, 0.2, 0.3, 0.2, 0.4, and 0.4 points respectively compared to the previous month, indicating a recovery in the economic sentiment of small and medium-sized enterprises (SMEs) [2][5] - The cost index remained unchanged from the previous month, suggesting stable overall costs for enterprises [6] Group 2: Industry Performance - In May, six industry indices increased while two decreased, with notable increases in the industrial, transportation, real estate, wholesale and retail, information transmission software, and accommodation and catering sectors, which rose by 0.6, 0.6, 0.2, 0.1, 0.4, and 0.4 points respectively [3][4] - The construction and social services sectors saw declines of 0.2 and 0.3 points respectively, indicating a mixed performance across industries [3][4] Group 3: Regional Development - In May, the development indices for SMEs in the eastern, central, western, and northeastern regions were 90.5, 90.3, 88.7, and 81.8 respectively, with the eastern, central, and northeastern regions showing increases of 0.3, 0.8, and 0.6 points, while the western region experienced a slight decline of 0.1 points [4] Group 4: Business Sentiment and Demand - The macroeconomic sentiment index reflecting business expectations rose to 98.9 in May, an increase of 0.7 points from the previous month, with significant increases in the industrial, construction, transportation, and accommodation sectors [5] - The market index improved to 81.5, with five out of eight surveyed industries reporting an increase in domestic orders and sales volume [5] Group 5: Financial Conditions - The funding index rose to 101, an increase of 0.3 points, with improvements in liquidity, financing conditions, and accounts receivable indices across most surveyed industries [5][6] - The investment willingness of enterprises increased, with the input index rising to 82.8, reflecting a positive outlook for future investments [6] Group 6: Business Efficiency - The efficiency index increased to 74.8, indicating a recovery in business performance, with four out of eight industries reporting improved efficiency [7] - The overall economic environment is influenced by recent policy measures and negotiations, contributing to a more favorable outlook for SMEs despite ongoing challenges [7]