MIIT: Average payment terms for major automakers show improvement

On September 14, the State Council Information Office held a regular policy briefing to introduce measures aimed at addressing difficulties faced by small and medium-sized enterprises (SMEs) in securing timely payments. Vice Minister of Industry and Information Technology Ke Jixin stated at the briefing that, according to industry research, the average payment terms of major automotive enterprises have shown some improvement. He also noted, however, that the current average payment terms among domestic automakers still fall short of SMEs’ expectations, citing issues such as inconsistent starting points for calculating payment periods and unclear acceptance criteria.