On June 10, four automobile manufacturers, including China First Automobile Group Co., Ltd., Dongfeng Motor Group Co., Ltd., Guangzhou Automobile Group Co., Ltd., and Seres Group Co., Ltd., issued statements respectively, promising that "the payment period will not exceed 60 days." The specific contents of the statements of the four companies are as follows:
China FAW
As a state-owned super-large automobile enterprise group, China FAW always regards suppliers as its closest partners, insists on sharing a common destiny, mutual benefit and win-win results, and jointly achieves high-quality development.
Recently, the Ministry of Industry and Information Technology, the State-owned Assets Supervision and Administration Commission and other national ministries and commissions have made a series of deployment requirements to ensure the stability of the industrial chain and supply chain and promote the high-quality development of the automobile industry. China FAW has resolutely implemented them and continuously optimized the internal procurement and financial settlement processes to maintain the healthy and stable market economic order with practical actions. First, improve the mechanism and strengthen execution. Clarify the payment period and payment method, set "60-day payment" as the payment period requirement for affiliated units, and strengthen fund supervision and process management. Second, optimize the process and improve efficiency. Strengthen internal coordination of procurement, finance and other departments, further streamline the approval process, and ensure that the payment process is unimpeded. Third, technology empowerment and precise control. Make full use of the digital cloud workbench to achieve real-time monitoring of the entire process nodes such as contract execution, invoice matching, and payment application to ensure that each payable is paid on time.
Looking to the future, China FAW will thoroughly implement the decisions and arrangements of the CPC Central Committee and the State Council, fulfill the mission and responsibilities of state-owned enterprises, and work together with upstream and downstream companies in the industrial chain to build a healthier and more sustainable automobile industry development ecosystem, and jointly create a new chapter in the high-quality development of China's automobile industry!
Dongfeng Motor
On June 10, in order to thoroughly implement the spirit of national policies and help small and medium-sized enterprises develop healthily, Dongfeng Motor Group Co., Ltd. (hereinafter referred to as Dongfeng Motor) officially announced that it would unify the payment period to within 60 days. This is an important measure for Dongfeng Motor to actively respond to the State Council's "Regulations on Guaranteeing Payment of Funds for Small and Medium-sized Enterprises", aiming to promote the efficient circulation of upstream and downstream funds with practical actions and help the good coordinated development of the industrial chain.
Dongfeng Motor will actively implement the social responsibilities and obligations of state-owned enterprises, further play the role of "chain leader" in the industrial chain, work with upstream and downstream enterprises to build a more resilient and innovative automobile industry ecosystem, and inject new impetus into the high-quality development of China's automobile industry.
GAC
GAC Group has always insisted on providing customers with high-safety, high-quality products and services. The healthy development of the supply chain system is the basis for ensuring high-safety and high-quality products. To this end, GAC Group will continue to adhere to the supplier payment period of no more than 60 days to ensure efficient turnover of supply chain funds, and work with upstream and downstream partners to jointly promote high-quality development of the industry.
Seres
SERES actively responded to the "Initiative on Maintaining Fair Competition Order and Promoting Healthy Development of the Industry" issued by the China Association of Automobile Manufacturers. The achievements made by China's new energy vehicles are not easy. We call for a more orderly marketization and for companies to strengthen self-discipline and jointly promote high-quality development of the industry. We are willing to continue to work with our colleagues in the industry to jointly maintain a fair and orderly market environment and build a new era of smart electric travel!
SERES is actively promoting product integration and intelligent manufacturing aggregation, effectively promoting the coordinated development of upstream and downstream enterprises in the industrial chain, and enhancing the competitiveness of the entire industrial cluster.
All along, SERES has paid in accordance with the contractual agreement with suppliers, with normal payment terms of 60 days, achieving a win-win situation for both the OEM and suppliers.