Shanghai, mainland China’s commercial and financial hub, has pledged to step up policing its manufacturing sectors to curb prolonged payment cycles that affect thousands of supply-chain vendors.
Gu Jun, deputy secretary general of the municipal government and director of the city’s development and reform commission, told a press conference on Thursday that a task force had been set up to ensure money owed to vendors would be paid promptly.
“Supervision will be strengthened to avoid delayed…
Source: Shanghai steps up oversight of delayed payment practices hurting suppliers
