Automakers in mainland China commit to 60-day supplier payment terms to enhance industry efficiency
The move is in response to a recent change in regulations that requires large enterprises to ensure timely payments to SMEs
Dongfeng Motor, Guangzhou Automobile Group Co. (GAC) and FAW Group, the leading state-owned automakers in mainland China, have committed to reducing payment terms for suppliers to 60 days, ETAuto reported on 11 June.
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