Shanghai steps up oversight of delayed payment practices hurting suppliers

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...