Great Wall, Xiaomi Among Automakers Heed Pricing Compliance Guidelines; CAAM Releases Payment Terms Survey Results

On February 13, Great Wall Motor and Xiaomi Auto successively expressed their support for the "Compliance Guidelines for Pricing Practices in the Automotive Industry" issued by the State Administration for Market Regulation, pledging to operate in compliance with laws and regulations throughout vehicle and component manufacturing, pricing, and sales processes. The guidelines aim to address "cutthroat" competition, standardize practices such as clear price labeling and promotional activities, and foster a market order based on quality and fair pricing. On the same day, the China Association of Automobile Manufacturers (CAAM) released a survey report showing that the average payment term among 17 key automakers has decreased to 54 days—10 days shorter than last year—as most companies have optimized payment methods and strengthened timely payments to small and medium-sized suppliers. However, some enterprises still engage in practices that effectively extend payment terms. CAAM stated it will continue urging companies to honor their commitments and promote fair industry development.