, a Chinese fintech company that helps smaller businesses get financing in an environment dominated by state-owned banks, has seen "very robust demand on the back of rising producer prices," investors relations head Kenny Ng said Thursday.
He expects loan demand will remain strong in the near future. Many of the company's clients operate in infrastructure-related projects like bridges and toll roads, he said. Loans for new customers can be processed in as quickly as two weeks, with an average size of about 2 million yuan, or about $312,000, Ng said.and iron ore have surged to record highs this year, each of which are up more than 20% for the year so far.
"Commodity prices are disconnecting from fundamentals, building up downside risks" for the second half of the year, Morgan Stanley economist Robin Xing and his team said in a report Wednesday. They expect China's producer price index will reach its highest point for the year in the second quarter, but have limited impact on consumer prices. The resulting squeeze on margins will likely persist in the near term, before easing in the, the Morgan Stanley analysts said. They expect strong global demand will help support profit.
China's official Purchasing Managers' Index, a gauge of business activity in manufacturing, is due out Monday. The producer price index and consumer price index for this month are set for release on June 9.
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