BEIJING (Reuters) -Chinese automaker Chery said on Monday it had shortened the average payment period to suppliers to an average of 47 days.
The move alleviates suppliers’ financial pressure, the company said.
China’s industry ministry said in July it would accept complaints from auto suppliers if major Chinese automakers fail to honor their commitment to timely payments, after multiple auto manufacturers vowed to make payments within 60 days.
(Reporting by Beijing NewsroomEditing by Bernadette Baum)
