Latest news with #GuangzhouAutomobile
Wall Street Journal
2 days ago
- 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.
Bloomberg
2 days ago
- Automotive
- Bloomberg
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.
