[MIIT Supports New Payment Norms for Power Battery Makers]

On June 29, the China Automotive Battery Industry Innovation Alliance and the Zhongguancun Energy Storage Industry Technology Alliance jointly issued the "Initiative on Regulating Supplier Payment Terms for Power and Energy Storage Battery Enterprises." The initiative focuses on procurement transactions between power and energy storage battery and system integrator companies and their suppliers, offering specific recommendations on order confirmation and modification, delivery and acceptance, payment and settlement, and contract duration. On the same day, several companies including CATL, FinDreams Battery, Sunwoda Power, EVE Energy, and Hyperstrong sequentially announced their support.

An official from the First Department of Equipment Industry of the Ministry of Industry and Information Technology (MIIT) stated that this initiative is an important step in implementing the "Regulation on Ensuring Payment to Small and Medium-sized Enterprises." It specifies requirements for order confirmation and modification, delivery and acceptance, and payment and settlement. For example, it stipulates that the acceptance period for materials and components should generally not exceed 7 working days; the payment cycle for SME suppliers should generally begin on the date of delivery or acceptance; it recommends that all payments to SMEs be made in cash; and it encourages both supply and demand parties to establish stable cooperative relationships and to sign long‑term framework agreements based on their existing cooperation.