![General-Featured-Image-678](https://library.solari.com/wp-content/uploads/2020/12/General-Featured-Image-678.jpg)
By Ambrose Evans-Pritchard
The Shibor overnight lending rate in Shanghai spiked violently to 29pc, with wild moves in seven-day and one-month money. The central bank refused to intervene to calm markets, apparently determined to purge excess from the credit system.