US EditionChina’s Industry Ministry Opens Complaint Platform for Auto Suppliers About Payment Issues
4 Articles
4 Articles
The Ministry of Industry and Information Technology of China has taken a significant step by announcing that it will begin to accept complaints from automotive suppliers.This measure aims to ensure that the leading Chinese car manufacturers comply with their commitment to make timely payments, according to the original report.The initiative responds to growing concerns about extended payment times and seeks to more effectively protect the indust…
China’s industry ministry opens complaint platform for auto suppliers about payment issues
SHANGHAI (Reuters) -China’s industry ministry said on Wednesday that it would accept complaints from auto suppliers if major Chinese automakers fail to honor their commitment to timely payments, aiming to address suppliers’ concerns over loopholes in payment regulations. The Ministry of Industry and Information Technology launched an online platform allowing suppliers to report automakers that set payment periods in procurement contracts longer …
For China’s auto suppliers, a 60-day pledge may still mean waiting months for payment
Just ten days after the Chinese government announced a 60-day payment policy for domestic automakers, a procurement officer at one of the newer brands told 36Kr that the company had completed internal assessments and decided to adopt the policy across all accounts. This included both new and outstanding debts, and applied regardless of supplier type. It’s a step not all automakers can afford to take. For many companies with tight cash flow, retr…
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