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<p>Multiple car companies have committed to keeping the payment terms for suppliers to no more than 60 days, in response to the "Regulations on Ensuring Payment to Small and Medium-sized Enterprises" that will be implemented in 2025. So far, a total of 17 car companies have made this commitment, including GAC Group, FAW Jiefang, and Dongfeng. Although the payment terms have improved, suppliers still express dissatisfaction with the cumbersome approval processes and financial pressures, believing that merely changing the payment terms is not enough to solve the actual problems</p>

- Seventeen automotive companies have committed to a maximum payment term of 60 days for suppliers, responding to a new regulation aimed at supporting small and medium enterprises.  
- Despite this commitment, suppliers express frustration over numerous hurdles in the procurement process, including complex bidding, lengthy approval procedures, and stringent acceptance criteria that delay payments.  
- The article highlights the need for clearer guidelines and a more equitable environment for suppliers, emphasizing that the current competitive landscape often leads to mutual dissatisfaction among all parties involved.

Wallstreetcn

FAW Jiefang

GAC Group

GAC GROUP

SERES

BAIC MOTOR

LEAPMOTOR

BYD COMPANY

NIO-SW

XPENG-W

GEELY AUTO

XIAOMI-W

Automakers promise a 60-day payment term, suppliers respond with six uncertainties