MIIT: Support Automakers in Earnestly Implementing the Commitment of "Payment Terms Not Exceeding 60 Days"

According to the WeChat account of the Ministry of Industry and Information Technology, 17 key automakers, including FAW, Dongfeng, GAC, and Seres, recently issued a statement committing to "payment terms not exceeding 60 days" for their suppliers. How should we view this commitment by automakers? What measures will be taken to promote the establishment of a collaborative and win-win development ecosystem between "finished vehicles and parts"? Relevant officials from the Ministry of Industry and Information Technology answered reporters' questions.

The official said that the automakers' proactive commitment to "payment terms not exceeding 60 days" is of great significance for building a collaborative and win-win development ecosystem between "finished vehicles and parts" and promoting the healthy and sustainable development of the industry.

The official stated that the industry chain and supply chain are the "bones and blood" of the automotive industry and a crucial link in its transformation and upgrading. As competition in the NEV market intensifies, competitive pressures are being transmitted from finished vehicles to the industry chain, leading to phenomena such as extended payment terms for suppliers' goods and difficulties in capital turnover, which are not conducive to technological innovation and the healthy and sustainable development of the industry.

The Ministry of Industry and Information Technology supports finished vehicle enterprises in earnestly fulfilling their relevant commitments and will continue to guide them in establishing long-term and stable cooperative relationships with supply chain enterprises, promoting integrated innovation and collaborative development among large, medium-sized, and small enterprises, actively fostering a favorable situation where "a rising tide lifts all boats," continuously enhancing the resilience and safety of the industry chain and supply chain, and making new contributions to the global development of the automotive industry.

The official said that currently, China's NEV industry is at a critical juncture for high-quality development. It is hoped that enterprises will lead by example and strengthen industry self-discipline. It is also hoped that all sectors of society will care about and support the high-quality development of the NEV industry, jointly resist online chaos such as "internet trolls" and "black public relations," and create a positive, civilized, and orderly development environment.