State Council Orders Faster, Stronger Action on Corporate Arrears; Receivables at RMB 28.6 Trillion by
Premier Li Qiang chaired a State Council executive meeting on August 21, deploying a faster and stronger campaign to clear arrears owed to enterprises. The campaign will use special bonds and special relending, and strengthen accountability to prevent new arrears. Data show that by end-June 2026, receivables of industrial enterprises above designated size reached RMB 28.6 trillion, over seven times their first-half profits of RMB 3.94799 trillion. Average receivables collection period was 71.7 days, up 0.8 days year on year. Finished goods inventory rose 9.5% to RMB 7.11 trillion, with turnover days at 21.1, up 0.4 days.
Premier Li Qiang chaired a State Council executive meeting on August 21, which deployed further efforts to clear arrears owed to enterprises. The meeting specified that a faster and stronger campaign to clear corporate arrears should be implemented, with primary responsibilities firmly assigned. Local governments will be supervised and guided to make good use of policies such as special bonds and special relending, to unblock the "chain clearing" process, genuinely improve the quality of arrears clearance, and strictly prevent new arrears.
According to data from the National Bureau of Statistics, as of end-June 2026, receivables of industrial enterprises above designated size reached RMB 28.6 trillion, equivalent to more than seven times the total profits of these enterprises in the first half, which stood at RMB 3.94799 trillion. During the same period, the average receivables collection period was 71.7 days, up 0.8 days year on year. Finished goods inventory totaled RMB 7.11 trillion, up 9.5% year on year, and the inventory turnover period was 21.1 days, an increase of 0.4 days.
In recent years, relevant authorities have revised the Regulations on Ensuring Payment of Sums Owed to Small and Medium-Sized Enterprises, launched special campaigns to clear arrears owed to enterprises, and built and improved a national complaint platform for defaults and arrears owed to SMEs. The special campaign deployed at this State Council executive meeting will further promote the resolution of corporate arrears.