www.chinaservicesinfo.com

Economy

China to enforce regulations ensuring timely payments to SMEs

Updated: Aug 31, 2020 Xinhua Print
Share - WeChat

China will enforce regulations on ensuring timely payments to small and medium-sized enterprises (SMEs) starting from Sept 1.

The State Council announced the regulations in a bid to safeguard legitimate rights and interests of SMEs and improve the business environment.

The regulations ban government departments, public institutions and large enterprises from defaulting on payments to SMEs in any disguised form, or forcing unfair payment terms upon SMEs in contracts.

To curb unfair practices, China will standardize contract signing and set up mechanisms for payment information disclosure, complaint handling, as well as supervision and evaluation, according to the regulations.

Copyright©2024 China Daily. All rights reserved.

京ICP备13028878号-6

京公网安 京公网安备 11010502032503号