Ministry of Industry and Information Technology: Guide leading enterprises to take the lead in making timely payments, making payment collection for SMEs something to look forward to.

On September 14, the State Council Information Office held a routine policy briefing to introduce work related to strengthening the governance of the problem of difficulties small and medium-sized enterprises face in collecting payments. Ke Jixin, Vice Minister of the Ministry of Industry and Information Technology, said that MIIT, together with the People's Bank of China, the State-owned Assets Supervision and Administration Commission of the State Council, the State Administration for Market Regulation, the China Securities Regulatory Commission and other departments, has focused on addressing the payment collection problems of small and medium-sized enterprises, rolled out a series of policies, and set clear requirements for large enterprises to pay small and medium-sized enterprises in a timely manner. As the work progressed, we also noticed that some large enterprises, while engaging in "price wars" with peers, use their competitive advantage in the market to lengthen payment terms for small and medium-sized enterprises, squeezing their cash flow, affecting their normal operations, and also affecting the healthy development of the industry and hindering the smooth circulation of the national economy. There is an urgent need to take measures for special rectification. Recently, the General Office of the State Council issued the Notice on Strengthening the Governance of the Problem of Difficulties Small and Medium-sized Enterprises Face in Collecting Payments. At present, most industries have not yet issued dedicated settlement and payment rules, and some large enterprises exploit loopholes and abuse their competitive market advantage by obscuring payment terms and delaying settlement milestones. The Notice lets small and medium-sized enterprises know clearly in what way they can receive final payments, and at the same time guides leading enterprises in their industries to take the lead in publishing and implementing a 60-day payment commitment. By guiding leading enterprises to take the first step and set an example, it drives the entire industry to form a sound ecosystem of timely payment.