Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BEIJING, June 12 (Xinhua) — China’s Ministry of Industry and Information Technology (MIIT) on Thursday backed pledges by some automakers to pay their suppliers within 60 days, saying the move would benefit industrial and supply chains.
On Tuesday, 17 leading Chinese automakers, including China FAW Group Co., Ltd., Dongfeng Motor Corporation, Guangzhou Automobile Group Co., Ltd., and SERES Group, pledged to make payments to their component suppliers within two months. The IIM noted that due to growing competition in China’s new energy vehicle market, pressure has shifted from automakers to supply chain participants in the auto industry, leading to longer payment terms for suppliers and creating cash flow constraints.
The promises are expected to boost cooperation between automakers and auto parts manufacturers, and greatly promote the healthy and stable development of China’s automobile industry, the IIM said.
The IIM stated its readiness to continue to maintain long-term, stable partnerships between automakers and companies involved in the supply chain, as well as to encourage innovation and coordinated development of all enterprises involved in this area, regardless of their size.
“We will continue to work to enhance the resilience and safety of production and supply chains, and make new contributions to the development of the global automobile industry,” the ministry spokesman said.
China’s new energy automobile industry is now at a critical stage of high-quality development, the official said, calling on all sectors to work together to create a “positive, civilized and orderly environment” for the industry’s development.
In the first five months of this year, sales of new energy vehicles in China rose 44 percent year-on-year to 5.61 million units, accounting for 44 percent of the country’s total new vehicle sales in the same period, according to the latest data from the China Association of Automobile Manufacturers.
The data also showed that China’s auto exports in January-May this year rose 7.9 percent year-on-year to 2.49 million units, including 855,000 new energy vehicles, up 64.6 percent year-on-year. -0-