State-owned Assets Supervision and Administration Commission of the State Council: Promote central enterprises to strengthen fund coordination to ensure timely payment.

Xinhua News Agency, Beijing, April 21st - The State-owned Assets Supervision and Administration Commission of the State Council recently issued specific deployment, requiring central enterprises to take the initiative, play a leading role, strengthen fund coordination arrangements, ensure timely payments, and negotiate in advance to pay small amounts and long overdue payments to small and medium-sized enterprises in accordance with the law, and increase support for upstream and downstream companies in the industrial chain. It is understood that the State-owned Assets Supervision and Administration Commission of the State Council took this action to implement the relevant deployments of the Party Central Committee and the State Council, strengthen the payment of funds to small and medium-sized enterprises, facilitate the effective circulation of funds, and fully demonstrate the responsibility of central enterprises. The Party Central Committee and the State Council attach great importance to solving the issue of overdue payments to enterprises. The decision of the Third Plenary Session of the Twentieth Central Committee of the Communist Party of China clearly pointed out the need to improve the long-term supervision of charges related to enterprises and the legal and regulatory system for settling overdue payments to enterprises. The revised "Regulations on Guaranteeing Payment of Funds to Small and Medium-sized Enterprises" were announced, and will be implemented starting from June 1, 2025. On March 28th, the State Council executive meeting reviewed and approved the "Action Plan to Speed up and Intensify the Clearing of Overdue Payments to Enterprises". This article is reproduced from Xinhua News Agency. Editor: Jiang Yuanhua.