Payment Terms Legislation In China

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China

Please scroll down for a summary of payment terms in China and the various industries across which payment term legislation appears.

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Industries Laws Codes Notes Interest Rate
Government
Comm_terms_law
Construction
Manufacturing
Retail_agriculture
Services

Notes

Article 628 of the Civil Code of the People’s Republic of China (effective 1 January 2021) provides that the buyer shall pay the purchase price at the agreed time. Where no time is agreed or the agreement is unclear, Article 511 applies: the buyer shall pay simultaneously when receiving the subject matter or the document for taking delivery. The Civil Code replaced the Contract Law of 1999 (including the former Article 161) which was abolished.

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