China FAW issued an article stating that it will continue to optimize internal procurement and financial settlement processes to maintain a healthy and stable market economy through practical actions. The first is to improve mechanisms and strengthen enforcement. Clarify payment terms and payment methods, use “60-day payment” as a payment term requirement for affiliated units, and strengthen fund supervision and process management. The second is to optimize processes and improve efficiency. Strengthen collaboration within procurement, finance and other departments, further streamline the approval process, and ensure the smooth and unhindered payment process. The third is technical empowerment and precise control. Make full use of the digital cloud workbench to achieve real-time monitoring of all process nodes such as contract execution, invoice matching, and payment application to ensure that every payable is paid on schedule.

China FAW issued an article stating that it will continue to optimize internal procurement and financial settlement processes to maintain a healthy and stable market economy through practical actions. The first is to improve mechanisms and strengthen enforcement. Clarify payment terms and payment methods, use “60-day payment” as a payment term requirement for affiliated units, and strengthen fund supervision and process management. The second is to optimize processes and improve efficiency. Strengthen collaboration within procurement, finance and other departments, further streamline the approval process, and ensure the smooth and unhindered payment process. The third is technical empowerment and precise control. Make full use of the digital cloud workbench to achieve real-time monitoring of all process nodes such as contract execution, invoice matching, and payment application to ensure that every payable is paid on schedule.