WEEKEND ECONOMIST: Escaping China's credit clamp

China's attempts to restrict credit are sending property developers to capital markets in Hong Kong, where they are forced to borrow at usurious interest rates.

Over the last week I have been visiting corporates, fund managers, central banks, sovereign wealth funds and commercial banks in Beijing, Hong Kong and Singapore.

The most important theme in my discussions revolved around the efforts of the Chinese authorities to tighten the availability of credit.

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