On August 25, Chery Automobile announced that from August 22 to 23, Wang Weiming, Director of the Department of Equipment Industry at the Ministry of Industry and Information Technology, led a team to Wuhu, Anhui, to investigate Chery’s production and operations, as well as its efforts to combat irrational competition. Chery Automobile Chairman Yin Tongyue introduced in the statement that, alongside rapid growth in sales, Chery has carefully implemented the national and relevant ministry requirements, resolutely optimizing supply chain payments. By implementing the “Four Major Combos,” Chery has reduced the average payment period to suppliers to 47 days.
According to Chery Automobile, the “Four Major Combos” include: standardizing the payment terms by making “≤60 days” a rigid, unified rule; implementing full-chain promotion for efficient departmental collaboration and streamlining the entire audit system; digitalizing approval processes for online operations across all stages; and establishing an advance payment mechanism to provide small and medium-sized enterprises (SMEs) with a certain proportion of advance payments, solving the issue of insufficient production startup funds. By implementing these “Four Major Combos,” Chery has successfully reduced the average payment period to suppliers to 47 days, alleviating suppliers’ financial pressures and promoting the sustainable and healthy development of the supply chain.
It is understood that the revised “Regulations on Ensuring Payment to Small and Medium-Sized Enterprises” was published in March this year. Article 9 of the regulations clearly states that large enterprises must pay for goods, engineering, and services purchased from SMEs within 60 days from the delivery date. If otherwise stipulated in the contract, it should follow the agreement, but the payment terms should be reasonable according to industry standards and trading customs, and payment should be made promptly. Enterprises cannot stipulate that payment to SMEs is conditional on receiving third-party payments or on the proportion of third-party payment progress.
On June 10-11, 17 domestic car manufacturers publicly committed to ensuring that supplier payment terms do not exceed 60 days, including GAC Group, FAW Group, Dongfeng Motor, Seres Group, Geely Auto, Changan Automobile, BYD, Great Wall Motors, Chery Automobile, Xpeng Motors, Leap Motor, Li Auto, NIO, Xiaomi Auto, and BAIC Group. On August 11, the Ministry of Industry and Information Technology released information regarding the research into FAW Group, GAC Group, and Seres Group’s commitment to fulfilling these promises.
Regarding Chery’s action of reducing the average payment period to suppliers to 47 days, the Department of Equipment Industry highly praised Chery’s efficient efforts and encouraged the company to actively fulfill its responsibilities as a leading enterprise, maintain fair and orderly competition, and contribute positively to the development of a healthy, collaborative, and sustainable industrial ecosystem.
As one of China’s leading domestic brands, Chery Group has seen particularly rapid sales growth in 2025. According to official data, in the first seven months of this year, Chery Group’s cumulative sales reached 1,484,563 vehicles, a year-on-year increase of 14.5%, setting a new historical high. Among them, the cumulative sales of new energy vehicles reached 424,737 units, a year-on-year increase of 87.7%, with the growth rate ranking among the top in the industry.
In terms of segmented brands, Chery brand achieved a cumulative sales volume of 881,135 vehicles; Exeed brand sold 69,490 units; Jetour brand sold 348,813 units; and iCAR brand sold 51,076 units. In addition to these brands, car exports have also been a key source of Chery Group’s sales. Data shows that, in the first seven months of this year, Chery Group’s total car exports reached 669,360 units, maintaining its position as the leading Chinese car exporter and becoming the first Chinese brand car company to exceed 5 million units in exports. Chery Group is accelerating its global localization production, with official reports stating that by the end of July, Chery Group had accumulated over 17.18 million global users, including more than 5.17 million overseas users.
