Chinese companies are reporting delays in getting paid by business partners

div > div.group > p:first-child"> The country's slowing economic growth, tighter credit conditions and rising bond defaults are putting pressure on corporate cash flows, according to a survey by French trade insurer Coface.

The longest payment terms were seen in the automotive and broader transportation sector as well as the construction and energy sectors, according to Casanova's report. A total of 40 percent of respondents said payment delays increased last year, higher than the 29 percent recorded in 2017. Chinese President Xi Jinping last year publicly responded to private companies' concerns about worsening conditions, assuring them authorities stood ready to help.

Coface also found that 59 percent of respondents saw it as unlikely that economic growth will get better this year, the first time since the survey began in 2003 that a majority of participants voiced such a view.

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