After China's regulatory authorities announced plans to step up efforts to address the "involutionary" competition revolving around price cuts among Chinese carmakers, 17 major carmakers, including BYD COMPANY (01211.HK) -0.100 (-0.078%) Short selling $256.95M; Ratio 31.401% and XPENG-W (09868.HK) +0.400 (+0.546%) Short selling $98.33M; Ratio 19.299% , publicly pledged to standardize supplier payment terms to within 60 days.A relevant official from China's Ministry of Industry and Information Technology (MIIT) stated that these commitments are of great significance for promoting the healthy and sustainable development of the automotive industry.Related NewsCMS Recommends Investors to Accumulate Positions on Dips in LT; BYD COMPANY (01211.HK) TP $170In addition, the MIIT said that it would support carmakers in earnestly fulfilling their commitments and continue to guide them and supply chain enterprises to establish long-term, stable partnerships. Its goal is to foster integrated innovation and coordinated development among large, medium, and small enterprises, while enhancing the resilience and security of the industrial and supply chains.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-18 12:25.)