China's Ministry of Industry to Push Auto Supplier Payment Terms Standards, Invites 20 Media as Monitors

On July 27, China's Ministry of Industry and Information Technology held a media briefing to announce efforts to shorten automotive supplier payment cycles. The ministry invited 20 journalists from central, financial and industry media outlets to serve as first-batch supervisors of the auto industry's accounts receivable issues. The ministry said it will work with relevant departments to accelerate the development and release of automotive supplier payment norms and guidelines.
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