MIIT: Support large enterprises in replacing accounts payable through loans and bond issuance.

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 getting paid. Ke Jixin, Vice Minister of the Ministry of Industry and Information Technology, said that the Notice on Strengthening Work Related to the Governance of the Problem of Difficulties Small and Medium-sized Enterprises Face in Getting Paid sets out a series of requirements for large enterprises, including "reducing the payment period for accounts payable, lowering the scale of accounts payable, and increasing the proportion of cash income." We can sense that large enterprises may face some pressure in the short term when implementing the relevant requirements, so full consideration has been given to the relevant circumstances and special arrangements have been made. The Notice makes clear that for large enterprises that actively implement the relevant requirements, financing support should be strengthened. The financial sector will actively guide commercial banks to support large enterprises in replacing accounts payable through financing methods such as loans and bond issuance, ease the funding pressure on large enterprises, and make timely payments to upstream and downstream enterprises.