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HPC Hong Kong style


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https://www.telegraph.co.uk/business/2018/08/17/buyers-flee-hong-kong-property-credit-crunch-bites/

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The PBOC appears willing to endure higher interest rates and risk a credit crunch as the necessary price for defending the yuan. Overnight Shibor lending rates have doubled to 2.56pc over the last week.

But this means further defaults by Chinese companies and a cold douche for Hong Kong, home to the world’s most overheated property market.

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