The survey also found that 53 percent of the companies increased credit sales due to keen competition in the domestic market. Among them, 44.6 percent increased credit sales to penetrate new domestic markets last year, up from 31.7 percent in 2009.
However, the companies were found to be not so confident in further improvement of payment behaviour. About 41.4 percent said they expected it to take more than three years for the overdue situation to improve.
Souquet said at the briefing in Singapore that he expected the tightening coming ahead to have an impact on the overdue situation in China but nevertheless added that the situation would continue to improve as the economy remained strong.
The survey was conducted from October to December last year and covered 1,071 companies of all sizes in various industrial sectors in China.
However, the companies were found to be not so confident in further improvement of payment behaviour. About 41.4 percent said they expected it to take more than three years for the overdue situation to improve.
Souquet said at the briefing in Singapore that he expected the tightening coming ahead to have an impact on the overdue situation in China but nevertheless added that the situation would continue to improve as the economy remained strong.
The survey was conducted from October to December last year and covered 1,071 companies of all sizes in various industrial sectors in China.
