MIIT Pushes Faster Supplier Payments; Tao Hailong Named Hasco GM; BMW Job Cuts
MIIT held a media briefing to speed up payment terms for suppliers at major automakers, introducing standardized payments, an online portal to report problems, and plans to issue guidance with other agencies. BMW disclosed plans to cut about 8,000 jobs, mostly in Germany, by late 2027. Tao Hailong was appointed general manager of Hasco after the eighth board meeting results.