MIIT Responds to Payment Guidelines for Battery Companies

[Policy Update] The Ministry of Industry and Information Technology (MIIT) supports two major alliances in issuing an initiative on payment guidelines for suppliers of battery enterprises.

Key Development: 11 Leading Battery Companies Respond to New Payment Terms

Contemporary Amperex Technology Co. Limited (CATL), FinDreams Battery, CALB, and 11 key enterprises have explicitly expressed their support. The initiative requires cash payments to small and medium-sized enterprise (SME) suppliers within a maximum of 60 days from the date of delivery or acceptance, and prohibits the use of non-cash instruments such as commercial acceptance bills.

Key Metrics: 7-Day Acceptance + 60-Day Payment Term Becomes Mandatory

Acceptance periods for materials and components should generally not exceed 7 working days. The payment term for SMEs starts from the delivery or acceptance date and must not exceed 60 calendar days, with extensions permitted for public holidays.

Strategic Foundation: Implementing the Regulations on Guaranteeing Timely Payments to Small and Medium-Sized Enterprises

This move aims to strengthen industrial chain collaboration, stabilize cash flow for SME suppliers, encourage the signing of long-term framework agreements, and foster a healthier, end-to-end industrial ecosystem.