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As Economy Slows, Firms Leave Bills Unpaid
10.25.2012 16:27
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As Economy Slows, Firms Leave Bills Unpaid
Coal mining, steel and firms that make machinery feeling the greatest pinch because clients are having a hard time paying
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(Beijing) – Tight credit and a weak business climate are forcing Chinese companies to neglect their bills, resulting in a surge in many businesses' accounts receivable.
Accounts receivable refers to money owed but not yet collected from a company's clients.
Enterprises are struggling to pay suppliers on time, adding to the financial strain felt by the suppliers, which in turn find it hard or impossible to repay their creditors.
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