This payment survey discusses specific trends of economic development, corporate payment experience and industry payment experience among selected economies (i.e. Australia, China, Hong Kong, India, Japan, Singapore and Taiwan). It is a point of reference, in particular, to better understand the general status of corporate credit management practices and experiences in these economies.
Coface utilized different macroeconomic and microeconomic indicators and questioned 2372 Asia-based companies’ payment experience and how credit management tools are used to mitigate risk. Data were taken between 2013 and early-February 2014.
According to the survey respondents, stage of development, corporate payment behavior and economic outlook are very different in various Asian economies particularly where market competition remains as the main reason why sales on credit terms were extended to customers in 2013 (85%) compared to 82% in 2012. One of the challenges for businesses is to keep the growth momentum going without losing assets on bad debts at a time when the “developing” nature of the Asian economies’ insolvency data are very difficult to come by.
- Corporate payment experience in Asia Pacific
- Analyses of difference economies: macro, survey result and key industries