On 15 September 2026, China Daily reported that the General Office of the State Council issued a circular outlining 10 measures to improve industry payment rules, strengthen oversight of large companies' payment practices, tighten regulation of noncash payment instruments, and expand financing support for smaller suppliers.
At a policy briefing, MIIT Vice Minister Ke Jixin said some large buyers abuse market power by obscuring when payment periods begin, delaying acceptance checks or settlement, and misusing commercial bills and electronic accounts-receivable certificates. The circular encourages industry leaders to commit to paying SMEs in cash—including bank transfers—within 60 days of delivery, and calls for clearer rules on payment clocks, acceptance standards, deadlines, and maximum payment periods to be written into model contracts.
PBOC financial-market department director Cao Yuanyuan said electronic accounts-receivable certificates will be capped at six months. She noted that some large firms used these certificates to delay payment while charging suppliers high financing fees, sometimes via affiliated factoring companies. Authorities will also support large companies using bank loans and bond financing to replace outstanding payables and settle suppliers in cash.
For the public sector, the circular requires government procurement projects to be paid entirely in cash and calls for oversight of government investment funds from allocation through payment. SASAC, per Caixin coverage of the same briefing cycle, said centrally administered SOEs should lead by paying amounts due promptly, issuing fewer bills and more cash, and breaking unreasonable industry payment customs; a complaint channel for debts owed by central SOEs was opened.
Beijing Post on 28 September again highlighted the requirement that state-owned enterprises settle with smaller private suppliers in cash rather than deferred commercial bills, underscoring that the campaign remains a live operating issue for manufacturing supply chains ahead of the National Day holiday.