China Interbank Market Dealers Association: Strengthen disclosure of accounts receivable information for debt financing instruments

Zhitong Finance APP has learned that on November 6, the National Association of Financial Market Institutional Investors (NAFMII) issued the "Notice on Matters Concerning Strengthening Information Disclosure of Accounts Payable for Debt Financing Instruments." The notice states, among other things, that the quality and efficiency of financing services should be improved. For enterprises that actively implement the "60-day cash payment commitment," achieve notable results in reducing payment terms and the scale of accounts payable, and proactively disclose relevant information, a "green channel" for the registration and issuance of debt financing instruments will be established, with dedicated personnel for follow-up and immediate review upon submission, thereby improving the quality and efficiency of review services. Support is given to using raised funds to pay accounts payable owed to small and medium-sized enterprises (SMEs). Issuers may replace accounts payable by issuing debt financing instruments, using the proceeds to make cash payments to upstream and downstream SMEs, thereby alleviating cash flow pressure on SMEs.