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Bloomberg
7 days ago
- Automotive
- Bloomberg
China's Carmakers Fall Short on Pledge to Pay Suppliers Faster
Just three of China's major automakers have met a pledge to pay suppliers within 60 days, underscoring the challenges of maintaining cash flow and overhauling business practices prompted by a long-running price war. State-owned manufacturers China FAW Group Co. and Guangzhou Automobile Group Co., as well as Chongqing-based Seres Group Co., have implemented a 60-day turnaround for their bills, according to a report by state broadcaster CCTV on Monday. GAC has made 95% of its payments in cash, it said.
Wall Street Journal
11-06-2025
- Automotive
- Wall Street Journal
Chinese Auto Stocks Rise After Vow to Pay Suppliers on Time
Shares of major Chinese automakers rose Wednesday as the companies pledged to shorten payment terms for suppliers amid an intensifying price war in the world's largest auto market. State-backed Guangzhou Automobile said late Tuesday that the company will commit to paying suppliers within 60 days, a move aimed at ensuring efficient capital flows across the auto industry's supply chains. Government-owned peers Dongfeng Motor and China FAW Group also released their own statements with the same message.
