September 29, 2016

Bloomberg News quotes Co-Managing Director Drew Bernstein in an article about factoring by Chinese manufacturers.

Featured Drew Bernstein, Co-Managing Partner, Marcum Bernstein & Pinchuk LLP

Bloomberg News quotes Co-Managing Director Drew Bernstein in an article about factoring by Chinese manufacturers.

Excerpt:

More and more Chinese factories are selling unpaid customer bills to financial firms, amid record payment delays.

“Stretching out sales days can be a rational business practice,” said Drew Bernstein, co-managing partner of Marcum Bernstein & Pinchuk, one of the top-four auditors of Chinese companies listed in the U.S. “But if the slowdown becomes persistent and people start to default, then there will be financial shock across the system.”

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