Recently, 17 domestic automakers announced commitments to shorten supplier payment terms to within 60 days, with follow-up research and implementation efforts promoted by the Ministry of Industry and Information Technology (MIIT). The Deputy Secretary General of the China Association of Automobile Manufacturers highlighted the critical role of automotive parts suppliers in the industry ecosystem.
On August 11, Wang Hongjie, Chairman of NAEN’s Board of Directors, a core supplier to GAC, stated during a CCTV News 1+1 program that the 60-day payment policy could improve the company’s operational efficiency by more than 40%. He also noted that NAEN is leveraging the global expansion of Chinese new energy vehicle brands to deepen cooperation with OEMs and accelerate its progress toward becoming a key player in the global automotive supply chain.