“Two departments jointly issued the first national-level accounting period management standard for the automotive industry: requiring submission of payment status reports by the end of July and before January each year.”
The Ministry of Industry and Information Technology and the State Administration for Market Regulation jointly issued the “Notice on Promoting Standardized Payment to Suppliers and Optimizing Credit Period Management by Automobile Enterprises” on September 7, 2026. This is the first national-level document on credit period management for the automobile industry. The notice sets five core requirements: First, the credit period shall be calculated from the date when goods or services are accepted as satisfactory; suppliers who provide services twice or more per month are required to ensure that the period between the midpoint of the consecutive supply cycle and the payment date does not exceed the upper limit. Second, general components must be accepted within 3 working days, and those that require vehicle verification must be completed within 5 working days. Third, the payment deadline must be specified in the contract and must not exceed the publicly committed period; late payments shall be subject to interest according to law. Fourth, cash payments are encouraged, and non-cash payment methods are not forced; the proportion of such payments must be controlled. Fifth, for continuous supply during the negotiation period, payment can be made at no less than 90% of the most recent contract price, and for non-continuous supply, at no less than 70% of the industry average price or the unit price agreed upon during development. The notice proposes a mechanism of “self-inspection reports from enterprises + research and evaluation by third-party institutions + government supervision”…
The Ministry of Industry and Information Technology and the State Administration for Market Regulation jointly issued the “Notice on Promoting Standardized Payment of Suppliers’ Accounts and Optimizing Account Period Management by Automobile Enterprises”. This is the first national-level document on account period management in the automotive industry. The notice puts forward five requirements regarding the payment of suppliers by automobile enterprises: First, the account period shall be calculated from the date when goods, projects, or services are accepted; for suppliers who provide services twice or more per month, the time interval between the midpoint of the continuous supply period and the payment date shall not exceed the upper limit. Second, general parts and components shall be accepted within 3 working days; those that require vehicle testing shall be completed within 5 working days. Third, the payment deadline shall be specified in the contract and shall not exceed the publicly committed deadline; late payments shall be subject to interest according to law. Fourth, cash payment is encouraged, and non-cash payment methods shall not be forced upon, with a controlled proportion. Fifth, for continuous supply during the negotiation period, payment can be made at no less than 90% of the most recent contract price; for non-continuous supply, payment can be made at no less than 70% of the industry average price or the unit price specified in the development project. The notice proposes to adopt a mechanism of “self-inspection reports by enterprises + research and evaluation by third-party institutions + government supervision…”