Chinese Carmakers Agree to Standardize Supplier Payment Periods
Several of China's state-owned automakers have pledged to standardize bill payment periods for their suppliers to 60 days after authorities raised concerns about supply chain financing.
At least three carmakers, including Dongfeng Motor Group Co., Guangzhou Automobile Group Co. and China FAW Group Co. issued similar statements on Tuesday saying their payment plans are aimed at promoting efficient capital flows across supply chains in the automotive industry.
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