TSTC Isn't the A/R for many biotech Chinese companies in a similar mess because they deal with state-run hospitals who take forever to pay but eventually do. The other thing to consider with the 3 big telcos is that with their growth in China and moving to newer generation networks, aren't they using more and more foreign companies as suppliers (just an assumption). That may mean they have to speed up their payables in order to deal with foreign suppliers. Of course, they could always speed up payments to them and still drag out the domestic suppliers. Just a thought that maybe things will change as China deals more globally.
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